Question : If a 10% loss is made on the selling price, the percentage of loss on the cost price will be:
Option 1: $11\frac{1}{9}\%$
Option 2: $9\frac{1}{11}\%$
Option 3: $10\%$
Option 4: $11\%$
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Correct Answer: $9\frac{1}{11}\%$
Solution :
Let the selling price be Rs. 100.
And loss = 10% of the selling price = Rs. 10
We know that CP = SP + Loss, where CP is the cost price, and SP is the selling price.
So, the CP = 110
Loss % = $\frac{\text{Loss}}{\text{CP}} × 100=\frac{10}{110}$ × $100=9\frac{1}{11}\%$
Hence, the correct answer is $9\frac{1}{11}\%$.
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