Question

A shopkeeper sells his goods at 80% of their cost price. What percent does he gain or lose?

• A. 20% Loss
• B. 10% Gain
  
• C. 30% Loss
• D. 15% Gain
  

Answer 1

Answer: (A)

20% Loss

Given, $S.P=80\%$ of $C.P.$ $=0.8C.P.$
Since, S.P. < C.P., there is a loss.
So, Loss $\%=‘\frac{C.P.-S.P.}{C.P.}\times 100\%=\frac{C.P.-0.8C.P.}{C.P}\times 100\%=0.2\times 100\%=20\%$