Question

An item was sold at fourth- fifths of its cost price. Find the profit or loss percent in the transaction?

Answer 1

Answer:

Loss% = 20%.

Step-by-step explanation:

Let x be the Cost price.

Selling price = 4/5 x.

Loss = [CP - SP/CP] * 100 = [(4x/5 - x) / x] *100

                 = 1/5 * 100 = 20%