WBCS.LIVE practice question

A man buys an article for Rs. 500 and sells it for Rs. 450. Find his loss percentage.

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 5%
  2. 10%
  3. 15%
  4. 20%

Correct answer and explanation

Correct answer: 10%

Explanation: āœ… Correct Answer: (B) 10% šŸ“š Explanation: Step-1: Calculate the loss amount. Loss = Cost Price - Selling Price = 500 - 450 = Rs. 50. Step-2: Calculate the loss percentage based on the Cost Price. Loss % = (Loss / CP) x 100. Step-3: Loss % = (50 / 500) x 100 = 10%.