If an item is bought for ₹800 and sold for ₹740, what is the loss percentage?
- AOption (a)
6.5%
- BOption (b)
7.5%
- COption (c)
9.5%
- DOption (d)
8.5%
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Correct answer
7.5%
Why this answer is correct
Shortcut Trick
Identify Cost Price (CP) = 800 and Selling Price (SP) = 740.
Loss = CP − SP = 800 − 740 = 60.
Loss% = (Loss ÷ CP) × 100.
Loss% = (60 ÷ 800) × 100 = 60 ÷ 8 = 7.5%.
∴ The correct answer is 7.5%.
Alternate Method
Given: CP = 800, SP = 740.
Formulas: Loss = CP − SP | Loss% = (Loss ÷ CP) × 100
⇒ Loss = 800 − 740 = 60
⇒ Loss% = (60 ÷ 800) × 100
⇒ Loss% = 6000 ÷ 800 = 7.5%
∴ The correct answer is 7.5%.
Additional Information
Cost Price and Selling Price
Cost Price (CP) is the price at which an item is purchased. Selling Price (SP) is the price at which it is sold.
Loss Condition
A loss occurs when the Cost Price is greater than the Selling Price (CP > SP).