Multiple choice

If the selling price of 50 articles is equal to the cost price of 42 articles, the what is the approximate loss or profit percentage?

  1. 16% loss

  2. 20% profit

  3. 10% loss

  4. 8% profit
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

If SP of 50 articles = CP of 42 articles, then SP of 1 article = 42/50 of CP = 0.84 CP. Since SP < CP, there is a loss. Loss = CP - SP = 1 - 0.84 = 0.16 = 16%. The answer is 16% loss, not profit, because the selling price is only 84% of the cost price.

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