Question

If an article is sold at a loss of 66 2/3%, what is the loss in terms of the selling price?​

Answer 1

Answer:

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Explanation:

Sol: Let the C. P. = 100. ∴ Amount of loss = 66 2/3 or 200/3 ⇒ S. P = 100 – 66 2/3 = 33 1/3 or 100/3.

∴ Loss expressed in terms of S. P. = 100 × (200/3)/(100/3) 100 = 200 %

Answer 2

33.33

• Mathematicians use the profit and loss formula to calculate market prices for goods and to assess how lucrative a company is. There is a selling price and a cost price for every goods. We can determine the profit made or loss suffered for a certain product based on the values of these prices. For a shopkeeper, for instance, it is a profit if the selling price of a good is higher than the cost price, and it is a loss if the cost price is higher than the selling price.
• A loss is defined as the sum the seller experiences after selling the good for less than its cost.

Here, according to the given information, an article is sold at a loss of $66\frac{2}{3}$%.

Now, when the cost price is 100, the loss is $66\frac{2}{3}$.

When the cost price is 1, the loss is $\frac{200}{300}$.

When the cost price is x, the loss is $\frac{2x}{3} .$

Now, the selling price is then equal to, $x - \frac{2x}{3} = \frac{x}{3} .$

Now, when the cost price is x, the selling price is $\frac{x}{3}$.

When the cost price is 1, selling price is $\frac{1}{3}$.

When the cost price is 100, the selling price is, $\frac{100}{3} =33.33$.

Hence, the selling price is 33.33.

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