CTET 2 Math and Science Sep 2016 Paper

Let the cost price of the goods be Rs 100.
Then, the marked price of the goods
$\mathrm{Rs}100+\mathrm{Rs}40=\mathrm{Rs}140$
Discount on the marked price$=140\times \frac{40}{100}=\mathit{R}\mathit{s}56$
Then,Selling Price = Marked Price – Discount
$=140-56$
$\mathrm{Rs}84$
Since $\mathit{C}\mathit{P}=\mathrm{Rs}100$ and $\mathit{S}\mathit{P}=\mathrm{Rs}84$
Then, there is a loss because CP > SP.
Now,$\mathrm{Loss}\%=\mathit{C}\mathit{P}-\mathit{S}\mathit{P}$
$=100-84$
$=16\%$
Hence, there is a loss of 16%.