WBCS.LIVE practice question

If a person buys a cycle for Rs. 2500 and sells it for Rs. 2000, what is the loss percentage?

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

Answer options

  1. 20%
  2. 10%
  3. 15%
  4. 25%

Correct answer and explanation

Correct answer: 20%

Explanation: ✅ Correct Answer: A) 20% 📚 Explanation: Step by step solving: Loss = Cost Price - Selling Price = 2500 - 2000 = Rs. 500. Loss percentage = (Loss ÷ Cost Price) × 100. Loss percentage = (500 ÷ 2500) × 100 = 1/5 × 100 = 20%. The person suffered a 20% loss on the transaction.