Multiple choice

A shopkeeper sells his goods at 80% of their cost price. What percent does he gain or lose?

  1. 20% loss

  2. 10% Gain

  3. 30% loss

  4. 15% Gain
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Selling price = 80% of Cost Price. This means SP = 0.8 * CP. Loss = CP - SP = 0.2 * CP. Loss percentage = (0.2 * CP / CP) * 100 = 20%.

AI explanation

Let the cost price be Rs. 100, making the selling price 80% of 100, which is Rs. 80. Using the loss percentage formula, ((100 - 80) / 100) * 100 equals 20%. The shopkeeper incurs a 20% loss.

Keep practicing — related questions