mcqs Math Profit And Loss Bill sold a bicycle for $640. If he purchased it at $800, then calculate his loss and loss percent in this sale. 147

Question: Bill sold a bicycle for $640. If he purchased it at $800, then calculate his loss and loss percent in this sale.

(A)  Loss = $160 and Loss% = 30%
(B)  Loss = $160 and Loss% = 25%
(C)  Loss = $160 and Loss% = 20%
(D)  Loss = $150 and Loss% = 35%

Correct Answer Loss = $160 and Loss% = 20%

Solution And Explanation

Solution

Given, Cost price (CP) = $800

Sale price (SP) = $640

Therefore, loss and loss % = ?

Loss = Cost Price – Sale Price

∴ Loss = $800 – $640

⇒ Loss = $160

Loss% = ^{Loss × 100}/_{Cost price}

Here, Loss = $160

And, Cost Price = $800

∴ Loss% = ^{160 × 100}/₈₀₀

= ^{160 20}/₈ = 20%

⇒ Loss = 20%

Therefore, Loss = $160 and Loss% = 20% Answer

Here, loss = $160

And, Cost Price = $800

∵ In $800, loss = $160

∴ In $1, loss = ¹⁶⁰/₈₀₀

∴ In $100, loss = ¹⁶⁰/₈₀₀ × 100

= ¹⁶⁰/₈₀₀ × 100

= ^{160 20}/₈ = 20%

⇒ Loss = 20%

Therefore, Loss = $160 and Loss% = 20% Answer