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40% of the cost price of an article is equal to 60% of its selling price. Then percentage of profit/loss on the cost price is:1. 60% profit2. 50% profit3. 50% loss4. 33.33% loss |
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Answer» Correct Answer - Option 4 : 33.33% loss Given: 40% of C.P = 60% of S.P Formula used: Gain% = (Gain/C.P) × 100% Calculation: 40% of C.P = 60% of S.P ⇒ 2 × C.P = 3 × S.P ⇒ C.P = 3, S.P = 2 Loss = Rs. (3 – 2) = Rs. 1 Loss% = (1/3) × 100% ⇒ 33.33% ∴ The loss percentage is 33.33% |
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