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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