Ramila buys a scooty at Rs 38,000. After 2 years she sold it at Rs 30,400. Then, how much percentage profit or loss Ramila gets?

20% loss

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20% profit

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40% profit

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30% loss

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Solution

The correct option is A 20% loss
Given
Ramila buys a scooty at Rs.38,000.
So Cost Price = 38000;
After 2 years she sold it at Rs.30,400.
So Selling Price = 30400
Here Cost Price is greater than Selling Price..so Loss exists.....
We know that...
Loss. = Cost Price - Selling Price
Loss = 38000- 30400
Loss= 7600
loss Percentage =( loss /Cost Price )×100
=( 7600/38000)×100
=20%
So loss Percentage= 20%

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