A phone bought for ₱2,000 was sold for ₱1,700. What was the percentage loss?

Correct answer: C. 15%

Loss = ₱300. Percentage loss = 300 ÷ 2,000 × 100 = 15%, based on the cost. Using the selling price as the base would give about 17.6%, which is incorrect here.

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Answer and explanation

The correct answer is C. 15%

Loss = ₱300. Percentage loss = 300 ÷ 2,000 × 100 = 15%, based on the cost. Using the selling price as the base would give about 17.6%, which is incorrect here.

Topic: Percentage and Interest Problems MCQs · Subject: Numerical Ability