An item purchased for Rs 460 sells for Rs 368. What is the loss percentage?

Question: An item purchased for Rs 460 sells for Rs 368. What is the loss percentage?

1. 21%
2. 19%
3. 22%
4. 20%

Correct Answer: D — 20%

Explanation: Loss percentage = (cost price − selling price) ÷ cost price × 100.
Using the values in this question gives 20% as the correct answer.