The profit made on a product is 79%. What is the loss percentage (correct to two decimal places) incurred on the sale if the figures of both the cost price and the selling price are interchanged?
Given:
Profit on the product = 79%
Formula Used:
Profit = S.P - C.P
Solution:
Assume original CP = ₹100
Then original SP = ₹100 + 79% of ₹100 = ₹179
Now, when CP and SP are interchanged
New CP = ₹179
New SP = ₹100
Loss % =
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