The selling price of 16 spoons is equal to the cost price of 15 spoons. Find the loss per cent.
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Answered by
1
Let the cost price of 1 spoon = Rs.1
So, cost price of 16 spoon =R s.16
SP of 15 spoon = Rs.15
From the question,
Selling price of 16 pens = cost price of 15 spoons
Loss = (CP)−(SP)
= (16−15)
= Rs.1
Loss % = {(Loss/CP)×100}
= {(1/16)×100}
= {100/16}
= 6.25%
= 6(1/4)%
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