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Find the loss percentage if an article costing тВ╣500 is sold for тВ╣425.
15%
10%
20%
12%
15%
Directly find the difference between CP and SP, then compute its percentage relative to the cost price.
Cost Price (CP) = тВ╣500, Selling Price (SP) = тВ╣425
Loss%=CPCPтИТSPтАЛ├Ч100
Directly find the difference between CP and SP, then compute its percentage relative to the cost price.
Mistakenly dividing the loss amount by the Selling Price (SP) instead of the Cost Price (CP).
Calculate the Loss amount
Subtract the selling price from the cost price to find the absolute loss: Loss=CPтИТSP.
Loss=500тИТ425=75
Substitute values into the Loss Percentage formula
Divide the loss by the cost price and multiply by 100 to get the percentage.
Loss%=50075тАЛ├Ч100
Simplify the expression
Cancel out the terms and simplify the fraction to find the final percentage value.
Loss%=15%
A is correct because the calculated loss percentage is 15%.
Mastering basic percentage and profit-loss calculations simplifies many related topics like discount, simple interest, and compound interest.
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