Loss of 20% on selling price is equal to x% loss in cost price. What is x?
1). 20%
2). 20
3). $16\frac{2}{3}$ %
4). 16
Solution;
SP = 100 %
Loss = 20%
Since , CP = SP + Loss
CP = 100 + 20 = 120%
Loss on C.P = (20/120)×100
= 200/12
= 16 (2/3)%
So, the correct option is 16 (2/3)%.