Find the loss percentage if Banrap incurred a loss of RS. 310 when he sold cosmetic for RS. 1550. (In book answer is given as 25%.)
selling price = 1550
since the loss is 310, cost price = 1860
percentage loss based on cost price = 310/1860 = 16.7%
percentage loss based on selling price = 310/1550 = 20%
with neither of the two interpretations, the rate cannot be 25%
cost him 1860
310 * 100 / 1860 = 16.7 %
That means book answer is wrong. Even I got same as 16%.
To find the loss percentage, we need to calculate the loss as a percentage of the cost price of the item.
We know that Banrap incurred a loss of RS. 310 when selling the cosmetic for RS. 1550.
To calculate the cost price, we need to subtract the loss from the selling price.
Cost Price = Selling Price - Loss
Cost Price = RS. 1550 - RS. 310
Cost Price = RS. 1240
Now, to find the loss percentage, we use the formula:
Loss Percentage = (Loss / Cost Price) * 100
Substituting the values:
Loss Percentage = (RS. 310 / RS. 1240) * 100
Loss Percentage = 0.25 * 100
Loss Percentage = 25%
Therefore, the loss percentage is 25% of the cost price, as given in the book's answer.