Question

If John buys pies at the rate of 5 pies for 10$and sells them at the rate of 8 pies for 10$, then what is his loss percentage?

Answer 1

Answer:

Cost of 5 pies=10$

Cost of 1 pie =10/5=2$

Cost of 8 pies=8×2$=16$ =CP

John sold 8 pies for 10$.

His loss=16$-10$=6$

Therefore, loss%=loss/CP×100

=6/16×100

=37.5%