Selling price of a bat is ₹1144 and profit percentage is 30 percent. If selling price is ₹704, then what will be the loss percentage?

Correct option is B

Given:
Selling Price (SP) = ₹1144
Profit Percentage = 30%
New Selling Price (SP) = ₹704
Formula Used:
Cost Price = $$\frac{\text{Selling Price}}{1 + \frac{\text{Profit Percentage}}{100}}$$​​

Loss Percentage = $$\frac{\text{Cost Price} - \text{Selling Price}}{\text{Cost Price}} \times 100$$​​
Solution:

Cost Price = $$\frac{1144}{1 + \frac{30}{100}} = \frac{1144}{1.30} = ₹880$$​​

Loss Percentage = $$\frac{880 - 704}{880} \times 100 = \frac{176}{880} \times 100 = 20\%$$​

The loss percentage is 20%.
Thus, the correct option is (b) 20%

Alternate Method:
Let CP = 100%; then SP = 130%

CP = $$\frac{1144}{130\%}\times100\%$$ = 880

CP  :   SP

880 :   704

Loss Percentage = $$\frac{176}{880} \times 100\%$$ = 20%​

​​