Question

The selling price of a sofa-set is $\frac{4}{5}$ times of its cost price. Find the gain or the loss as percent.

Answer 1

Given, $S.P.=\frac{4}{5}C.P.$
$Loss=C.P.-S.P.=C.P.-\frac{4}{5}C.P.=\frac{1}{5}C.P.$
Since, $SP<CP$, there is a loss
Loss % $=\frac{Loss}{C.P.}\times 100=\frac{1}{5}\times 100=20$ %