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Select the correct answerRavi buys some toffees at 2 for a rupee and sells them at 5 for a rupee. His loss percent is?Options120%30%60%90%

Question

Select the correct answerRavi buys some toffees at 2 for a rupee and sells them at 5 for a rupee. His loss percent is?Options120%30%60%90%

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Solution

To solve this problem, we need to first understand the cost price and the selling price of the toffees.

  1. Cost Price (CP): Ravi buys toffees at 2 for a rupee. So, the cost price of one toffee for Ravi is 1/2 = 0.50 rupees.

  2. Selling Price (SP): Ravi sells the toffees at 5 for a rupee. So, the selling price of one toffee for Ravi is 1/5 = 0.20 rupees.

  3. Now, we can calculate the loss. Loss is calculated as CP - SP. So, loss = 0.50 - 0.20 = 0.30 rupees.

  4. To find the loss percentage, we use the formula (Loss/CP)*100. So, loss percentage = (0.30/0.50)*100 = 60%.

So, Ravi's loss percent is 60%.

This problem has been solved

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