To find the loss percentage in this problem, we begin by understanding the relationship between the selling price and the cost price provided in the question.
The problem states:
- The selling price (SP) of 10 chairs is the same as the cost price (CP) of 8 chairs.
Let's denote:
- SP as the selling price for one chair.
- CP as the cost price for one chair.
According to the given information:
- 10 \times SP = 8 \times CP
From the equation above, we can express the selling price per chair as:
- SP = \frac{8}{10} \times CP = 0.8 \times CP
This means that each chair is sold at 80% of its cost price, indicating a loss. Now, to find the percentage of loss:
- Loss per chair = CP - SP = CP - 0.8 \times CP = 0.2 \times CP
- Loss percentage = \frac{\text{Loss}}{\text{CP}} \times 100 = \frac{0.2 \times CP}{CP} \times 100 = 20\%
Therefore, the loss percentage is 20%.
Similar Questions
- P sells a Laptop to Q at a loss of 25% and Q sells the laptop to R at a profit of 20%. If R purchased the laptop for 22,500, then what was the cost (in ₹) of the laptop for P?
- The selling price of y items is equal to the cost price of 540 items. If the profit made is 44%, then find the value of y.
Two articles were sold for Rs.3,000 each, with no loss and profit in the entire transaction. If one was sold at a profit of 25%, then the loss incurred on the second article is _______.
- The profit earned after selling an article for ₹6,250 is the same as the loss incurred after selling the article for ₹3,750. Find the cost price of the article.
Shyam bought a chair for ₹1,563 and spent ₹350 on its repairing. He sold it for ₹2,398. Find his profit percentage (correct to two places of decimals).
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- The difference between the cost price and the selling price of a table lamp is ₹540. If the profit is 30%, then the selling price (in) is:
- On selling 2800 school bags, Anita earns a profit equal to the sale price of 420 school bags. What is the gain percentage that Anita earned?
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Important Questions from Profit and Loss
Rohit buys 8 pens and 4 pencils for Rs. 2400. He sells pencils at a profit of 20 percent and pens at the loss of 10 percent. If his overall profit is Rs. 240, then what is the sum of the cost price of one pen and one pencil?
A man sells a car to his friend at the loss of 10 %; who in return sells it for Rs. 54000 making a profit of 20 %. What was the initial value of the car?
An article was sold at a loss of 24%. If it were sold for Rs. 1,596 more, then there would have been a gain of 18%, The cost price of the article is:
The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?
If the selling price of 7 articles is equal to the cost price of 6 articles, then what is the percentage loss?
