The selling price of 21 articles is equal to the cost price of 18 articles. Find the loss percent?.
Question
The selling price of 21 articles is equal to the cost price of 18 articles. Find the loss percent?
Solution
Step 1: Let's assume the cost price of 1 article is 18.
Step 2: According to the problem, the selling price of 21 articles is also $18.
Step 3: Now, let's find the selling price of 1 article. It would be 0.857.
Step 4: We know that the cost price of 1 article is 0.857. Therefore, the loss on 1 article is 0.857 = $0.143.
Step 5: To find the loss percent, we use the formula (Loss/Cost Price) * 100. Substituting the values, we get (1) * 100 = 14.3%.
So, the loss percent is 14.3%.
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