Question : The selling price and the cost price of a cup are INR 576 and INR 800 respectively. What is the loss percentage?
Option 1: 22%
Option 2: 28%
Option 3: 24%
Option 4: 32%
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Correct Answer: 28%
Solution : Selling price = INR 576 Cost price = INR 800 Loss = Cost price – selling price = 800 – 576 = 224 Loss percentage = $\frac{\text{Loss}}{\text{Cost price}}\times100= \frac{224}{800}\times100= 28$% Hence, the correct answer is 28%.
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