The ratio of the selling price to that of the cost price is 6 : 7. What is the percentage of loss?

Step 1: Understand the problem The problem is asking for the percentage of loss when the ratio of the selling price to the cost price is 6:7.

Step 2: Define the terms The selling price is the price at which an item is sold. The cost price is the price at which an item is purchased or produced.

Step 3: Set up the ratio The ratio of the selling price to the cost price is 6:7. This means that for every 7 units of cost, the selling price is 6 units.

Step 4: Calculate the loss The loss is the difference between the cost price and the selling price. In this case, the loss is 7 units - 6 units = 1 unit.

Step 5: Calculate the percentage of loss The percentage of loss is the loss divided by the cost price, multiplied by 100. In this case, the percentage of loss is (1 unit / 7 units) * 100 = 14.29%.

So, the percentage of loss is 14.29%.