Multiple choice

If the loss incurred in a transaction is 1/5th of the selling price, the loss percent is

  1. 16.66

  2. 15

  3. 20

  4. 18.33

  5. 17.5
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A Correct answer
Explanation

Loss = (1/5) * SP. Since Loss = CP - SP, we have CP - SP = (1/5) * SP, so CP = (6/5) * SP. Loss percent = (Loss / CP) * 100 = ((1/5) * SP / ((6/5) * SP)) * 100 = (1/6) * 100 = 16.66%.

AI explanation

Let the selling price be 5 units, meaning the loss is 1 unit. The loss percent formula states that loss percent equals (loss / cost price) multiplied by 100. The cost price is the selling price plus the loss, which is 5 + 1 = 6 units. The loss percent is (1 / 6) multiplied by 100, which equals 16.66%. The result is 16.66.

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