Question

A bicyle was bought for ₹560 and sold for ₹546. Find the loss percent.

Answer 1

The loss percent is 2.5%.

Step-by-step explanation:

Given:

A bicycle was bought for ₹560 and sold for ₹546.

Now, to find the loss percent.

Cost price of bicycle = ₹560.

Selling price of bicycle = ₹546.

So, to get loss in the sale:

Loss = Cost price - sale price

Loss = 560 - 546

Loss = ₹14.

Now, to get the loss percent:

Loss percent = $\frac{Loss}{Cost\ price} \times 100$

$Loss\%=\frac{14}{560}\times 100\\\\Loss\%=0.025\times 100\\\\Loss\%=2.5.$

Therefore, the loss percent is 2.5%.

Answer 2

Given:

A bicycle was bought for ₹560 and sold for ₹546.

Now, to find the loss percent.

Cost price of bicycle = ₹560.

Selling price of bicycle = ₹546.

So, to get loss in the sale:

Loss = Cost price - sale price

Loss = 560 - 546

Loss = ₹14.

Now, to get the loss percent:

Loss percent = \frac{Loss}{Cost\ price} \times 100

Cost price

Loss

×100

\begin{gathered}Loss\%=\frac{14}{560}\times 100\\\\Loss\%=0.025\times 100\\\\Loss\%=2.5.\end{gathered}

Loss%=

560

14

×100

Loss%=0.025×100

Loss%=2.5.

Therefore, the loss percent is 2.5%.