Question

The Selling Price Of A Sofa-Set Is $\frac{3}{5}$ Times Of Its Cost Price. Find The Gain Or The Loss As Percent.

Answer 1

Let the cost price (CP) be $\mathrm{X}$

Let the selling price (SP) be $\frac{3}{5}\mathrm{X}$

$\mathrm{Loss}=\mathrm{CP}-\mathrm{SP}$

$\begin{array}{rcl}\mathrm{Loss}& =& \mathrm{X}-\frac{3}{5}\mathrm{X}\\ & =& \frac{2}{5}\mathrm{X}\end{array}$

$\begin{array}{rcl}\mathrm{Loss}\%& =& \frac{\mathrm{loss}}{\mathrm{CP}}\times 100\\ & =& \frac{{\displaystyle \frac{2}{5}}\mathrm{X}}{\mathrm{X}}\times 100\\ & =& 40\%\end{array}$

Hence- Loss$=40\%$