A box of oranges was purchased by a fruit seller for Rs. 300. Due to lack of time he had to sell them at the price of 240 because they began to start getting rotten. Calculate his loss percentage.
Cost price = Rs. 300, Selling price = 240 Rs.
Since S.P < C.P, there is some loss incurred.
Loss = C.P – S.P = 300 – 240 = 60
Loss % = loss/ C.P x 100 = 60/300 x 100 = 20%
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