Question

The loss percent when antiques from china are bought at 60 for rs 50 lakhs and sold at 10 for rs 4 lakh is

Answer 1

cost price of 60 antiques = Rs 50 lakh

Sales price of 10 antiques = Rs 4 lakh

so Sales price of 60 antique = 4 × 6 = 24 lakh

loss  = cost price - sales price = 50 - 24 = 26

loss %  =( loss × 100 )/ cost price = (26 × 100)/ 50 = 52%

hence loss % is 52%