Find the profit or loss percent in a transaction where the cost price is ₹ 20 and the selling price is ₹16.
Loss of 20%
Given:
Cost price (CP) = ₹ 20
Selling price (SP) = ₹ 16
Since CP > SP, there is a loss incurred which is calculated as:
Loss = CP - SP = ₹ (20 -16) = ₹ 4
Loss%=LossCP×100
=₹ 4₹ 20×100
=15×100
=20%