Question : The ratio of the cost price and the selling price is 5 : 3. What is the loss percentage?
Option 1: 35%
Option 2: 40%
Option 3: 25%
Option 4: 30%
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Correct Answer: 40%
Solution : Let cost price = $5\text{x}$ Let selling price = $3\text{x}$ Loss percentage = $\frac{\text{Cost price – Selling price}}{\text{Cost price}}×100=[\frac{(5\text{x} - 3\text{x})}{5\text{x}}] \times 100 = (\frac{2\text{x}}{5\text{x}}) \times 100= 40\%$ Hence, the correct answer is 40%.
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