Calculate Loss and Loss Percent

We will learn how to calculate loss and loss percent.

If selling price is less than the cost price (S.P. < C.P.), there is a loss.

Loss = cost price - selling price   

or, cost price = loss + selling price            

Selling price = cost price - loss    

Loss% → loss on $100 is called loss%

Loss percent is always calculated on cost price

So, loss% = \(\frac{loss}{cost price}\) × 100

Solved Examples on Calculate Loss and Loss Percent:

1. A dress was bought for $400 and sold $350. Find the loss and loss percent.

Solution:            

Cost price = $400             

Selling price = $350         

Since, S. P. < C. P., there is loss

Therefore, loss = cost price - selling price

                     = $450 - $350                         

                     = $50                        

So, loss% =  \(\frac{loss}{cost price}\) × 100

              =  \(\frac{50}{400}\) × 100

              =  \(\frac{25}{2}\)

              = 12.5%

2. If the cost price of 20 electric goods is equal to the selling price of 25 electric goods, find loss per cent.

Solution:            

Let cost price of 1 electric good = $1

Then cost price of 20 electric goods = $20

Also, cost price of 25 electric goods = $25

Since, selling price of 25 electric goods = cost price of 20 electric goods

Therefore, selling price of 25 electric goods = $20

Therefore, loss = cost price - selling price

                      = $25 - $20

                      = $5

Therefore, loss% = \(\frac{loss}{cost price}\) × 100

                         =  \(\frac{5}{25}\) × 100

                         = 20%

7th Grade Math Problems

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