Question

If the selling price of a flower vase is $\frac{5}{6}$ of its cost price, find the loss per cent.

Answer 1

Let the cost price be $x$.

Therefore, selling price = $\frac{5}{6}x$

Loss = $x-\frac{5}{6}x$ = $\frac{x}{6}$

Loss percent = $\frac{x/6}{x}\times 100$ = $\frac{100}{6}=\frac{50}{3}$%