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Sum

The selling price of a sofa-set is `4/5` times of its cost price. Find the gain or the loss as a percent.

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#### Solution

Let the cost price (C.P.) =1

S.P. =`1xx4/5=4/5`

∴ Loss =`1-4/5=(5-4)/5=1/5` ....[∵ loss = C.P. − S.P.]

Loss%`="Loss"/"C.P."=(1/5)/1xx100=1/5xx100=20%`

Concept: Concept of Discount

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