Question : Rohit buys an old bat for Rs. 880 and spends Rs. 120 on its repair. If he sells it for Rs. 800, then what is the loss percentage?
Option 1: 25%
Option 2: 30%
Option 3: 10%
Option 4: 20%
Correct Answer: 20%
Solution :
Given: Rohit buys an old bat for Rs. 880 and spends Rs. 120 on its repair, he sells it for Rs. 800
The total cost of the bat (CP) = (880 + 120) = Rs. 1000
Selling price (SP) = Rs. 800
So, the loss percentage = $\frac{\text{CP – SP}}{\text{CP}}×100$
= $\frac{1000-800}{1000}×100$
= 20%
Hence, the correct answer is 20%.
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