A man buys an article for Rs. 100 and sells it for Rs. 80. Find his loss percentage.
Correct: C
The loss is given by the formula L = CP - SP, where L is the loss, CP is the cost price, and SP is the selling price. We are given that the cost price is Rs. 100 and the selling price is Rs. 80. Substituting these values, we get L = 100 - 80 = 20. The loss percentage is given by the formula LP = (L/CP) * 100, where LP is the loss percentage. Substituting the values, we get LP = (20/100) * 100 = 20.