Question : The ratio of the selling price and the cost price of an article is 1 : 2. What is the loss percentage?
Option 1: 50%
Option 2: 20%
Option 3: 40%
Option 4: 60%
Correct Answer: 50%
Solution :
The ratio of the selling price and the cost price = 1 : 2
Let the selling price be $x$ and the cost price is $2x$.
Loss percentage = $\frac{\text{cost price - selling price}}{\text{cost price}} × 100$
= $\frac{2x-x}{2x} × 100$
= $\frac{100x}{2x}$
= 50%
Hence, the correct answer is 50%.
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