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Question
By selling 8 pens, Shyam loses equal to the cost price of 2 pens. Find his loss percent.
Solution
- Cost price of 8 pens: Let the cost price of 1 pen be 1 unit, so the cost price of 8 pens is 8 units.
-
Selling price of 8 pens: Shyam incurs a loss equal to the cost price of 2 pens, so:
Selling price of 8 pens = Cost price of 8 pens − Loss = 8 − 2 = 6 units. - Loss per pen: Loss per pen
Loss per pen = Cost price per pen − Selling price per pen.
Cost price per pen = 1 unit, Selling price per pen = `6/8` = 0.75 units.
Loss per pen:
Loss per pen = 1 − 0.75 = 0.25 units. - Loss percentage:
`"Loss percentage" = ("Loss per pen")/("Cost price per pen") xx 100`
`0.25/1 xx 100 = 25%`
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