Multiple choice

Ramila buys a scooty at Rs 38,000. After 2 years she sold it at Rs 30,400. Then, how much percentage profit or loss Ramila gets?

  1. 20% loss

  2. 20% profit

  3. 40% profit

  4. 30% loss
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A Correct answer
Explanation

Cost price = 38,000. Selling price = 30,400. Loss = 38,000 - 30,400 = 7,600. Loss percentage = (7,600 / 38,000) * 100 = 20%.

AI explanation

Using the loss percentage formula, Loss Percentage equals (Loss divided by Cost Price) multiplied by 100. The loss is 38000 minus 30400, which equals Rs 7600. Substituting the values gives (7600 divided by 38000) multiplied by 100, resulting in a 20% loss.

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