By disposing of 8 units of a product for ₹240, a trader suffers a financial loss equivalent to the purchase price of 2 of those units. Determine the loss percentage incurred by the trader.

The correct option is 25%.

Let's break down the solution step-by-step to calculate the loss percentage.

Step 1: Understand the given information
Number of units sold = 8
Selling Price of 8 units = ₹240
Loss incurred = Cost Price (CP) of 2 units

Step 2: Set up the equation for Loss
We know the standard formula for loss is:
$\text{Loss}=\text{Cost Price of 8 units}-\text{Selling Price of 8 units}$

Let the cost price of 1 unit be $c$ and the selling price of 1 unit be $s$.
Cost Price of 8 units = $8c$
Selling Price of 8 units = $8s$
Loss = Cost Price of 2 units = $2c$

Substituting these into the loss formula:
$2c=8c-8s$

Step 3: Relate Cost Price and Selling Price
Rearranging the equation to solve for $8s$:
$8s=8c-2$
$8s=6c$

This means the total Cost Price of 8 units is $8c$.

Step 4: Calculate the Loss Percentage
The formula for Loss Percentage is:
$\text{Loss Percentage}=\left(\frac{\text{Total Loss}}{\text{Total Cost Price}}\right)\×100$

Substitute Total Loss = $2c$ and Total Cost Price = $8c$:
$\text{Loss Percentage}=\left(\frac{2c}{8c}\right)\×100$

Simplifying the fraction:
$\text{Loss Percentage}=\left(\frac{1}{4}\right)\×100=25\%$

Thus, the loss percentage incurred by the trader is 25%.