Calculate Loss Percent
We will learn how to calculate loss percent in an article. Loss percentage is always calculated on cost price (C.P.).
Formula to find loss% = (loss/cost price) × 100%
Solved examples:
1. By selling a machine for $9000; a loss of $1000 is suffered. Find the loss percent.
Solution:
Given, S.P. of a machine = $9000 and loss made = $1000
Therefore, C.P. = S.P. + loss
= $9000 + $1000
= $10000
And, loss% = (loss/cost price) × 100%
= (1000/10000) × 100%
= (1/10) × 100%
= 10%
Therefore, loss percent by selling a machine is 10%
More examples to calculate loss percent:
2. By selling an article for $10000 a man losses $2000. Find the loss%.
Solution:
Given, selling price of an article = $10000 and loss made = $2000
Therefore, cost price = selling price + loss
= $10000 + $2000
= $12000
And, loss% = (loss/cost price) × 100%
= (2000/12000) × 100%
= (1/6) × 100%
= 16 2/3%
Therefore, loss percent by selling an article is 16 2/3%.
3. Jim bought a second hand motorcycle for $1200 and spent $200 on its repair. He sold it for $1280. Find his loss percent.
Solution:
Cost price includes overhead expenses also.
Therefore, cost price = $1200 + $200 = $1400
and selling price = $1280
Since, selling price < cost price, there is a loss.
Loss = cost price - selling price
= $1400 - $1280
= $120
Loss percent = loss/cost price × 100
= 120/1400 × 100
= 60/7
= 8 4/7 %
Therefore, loss percent by selling a second hand motorcycle is 8 4/7 %
Note:
When some additional expenses are made after purchase of an article, it is added to the cost price (C.P.), these additional expenses are called overhead.
To find Profit or Loss when Cost Price and Selling Price are Given
To find Selling Price when Cost Price and Profit or Loss are Given
To find Cost Price when Selling Price and Profit or Loss are Given
Calculate Profit or Loss Percent
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Calculate Loss and Selling Price
6th Grade Math Practice
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