If a man estimates his loss as 20% of the selling price, then his loss percent is = ?
A. 20%
B. 25%
C. $$\frac{{40}}{3}$$%
D. $$\frac{{50}}{3}$$%
Answer: Option D
Solution (By Examveda Team)
According to the question,Loss = 20% Selling price
$$i.e.\frac{{{\text{Loss}}}}{{{\text{Selling price}}}} = \frac{1}{5}$$
∴ Cost price = Selling price + Loss
= 5 + 1
= 6
$$\eqalign{ & \therefore {\text{Loss}}\% = \frac{1}{6} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{50}}{3}\% \cr} $$
This Question Belongs to Arithmetic Ability >> Profit And Loss
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