Question

Ankur bought $70kg$ potatoes at $Rs.5,000$ and sold at $Rs.4,000$. Find the loss $\%.$

Answer 1

The cost price of potatoes $=Rs.5000$

The selling price of potatoes $=Rs.4000$

Therefore,

Loss $\%=\frac{C.P.-S.P.}{C.P.}\times 100$

$\therefore$ loss $\%=\frac{5000-4000}{5000}\times 100=20\%$