Question

A writer bought 20 articles for 450 rupees and sold it for 200 rupees. What is the loss percentage?
(a) 55.55%
(b) 54.23%
(c) 56.12%
(d) 57.12%

Answer 1

Hint: It is said that the writer bought 20 articles for 450 rupees, so this is our cost price (CP). Similarly, we will get the selling price (SP) as he sold the articles for 200 rupees. Next, find the loss by using the formula Loss = CP – SP. Then find the loss percentage by using the formula \[Loss\%=\dfrac{Loss\times 100}{CP}\] and calculate the expression to find the final answer.

Complete step by step solution:
The price for which any goods are bought for is the cost price (CP) and the price at which they are sold is called the selling price (SP).
By following the above said statement we conclude the cost price (CP) of 20 articles is 450 rupees and the selling price (SP) is 200 rupees.
We know the formula to find the loss is expressed as,
 Loss = CP - SP
Applying the above formula to find the loss,
Loss = 450 – 200
Loss = 250
We know the loss percentage can be written as,
 \[Loss\%=\dfrac{Loss\times 100}{CP}\]
Applying the above formula to find the loss percentage,
Substitute Loss = 250 in the above formula to find the loss percentage,
\[Loss\%=\dfrac{250\times 100}{450}\]
On Multiplying 250 with 100 we get loss percentage as,
\[Loss\%=\dfrac{25000}{450}\]
Dividing 25000 by 450 to get the loss percentage,
Loss% = 55.55
We get the loss percentage as 55.55%
Hence, option (a) is the correct answer.

Note: The possible error that you may encounter could be that you might have subtracted cost price (CP) from selling price (SP) instead of subtracting selling price (SP) from cost price (CP) in case of calculating loss. Another mistake can be that the loss percentage is always calculated on the cost price (CP) of the article unless it is specified to calculate on the selling price (SP).