Profit And Loss
Math MCQs

Question :    Jack sold a TV set at $1584. If he purchased it at $1800, then calculate his loss and loss percent in this sale.

Correct Answer  Loss = $216 and 12%

Solution & Explanation

Solution

Given, Cost price (CP) = $1800

Sale price (SP) = $1584

Therefore, loss and loss % = ?

Calculation of loss, when cost price and sale price is known

Loss = Cost Price – Sale Price

∴ Loss = $1800 – $1584

⇒ Loss = $216

Calculation of loss percent using formula, when loss and cost price is known

Loss% = ^{Loss × 100}/_{Cost price}

Here, Loss = $216

And, Cost Price = $1800

∴ Loss% = ^{216 × 100}/₁₈₀₀

= ^{216 12}/₁₈ = 12%

⇒ Loss = 12%

Therefore, Loss = $216 and Loss% = 12% Answer

Calculation of Loss% using Unitary Method, when loss and cost price is known

Here, loss = $216

And, Cost Price = $1800

∵ In $1800, loss = $216

∴ In $1, loss = ²¹⁶/₁₈₀₀

∴ In $100, loss = ²¹⁶/₁₈₀₀ × 100

= ^{18 × 12}/_{18 × 100} × 100 = 12%

[∵ 216 = 18 × 12 and 1800 = 18 × 100]

⇒ Loss = 12%

Therefore, Loss = $216 and Loss% = 12% Answer

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