Question

A bit purchased a house for 320000 and sold it after 3 years in cost of 285000 find the loss percent or total cost

Answer 1

Answer: Given data:

Cost price of the house = 320000

Sale price of the house = 285000

Required = loss percentage

Solution : By using the formula

Loss= cost price - selling price

Loss = 320000-285000

Loss = 35000

we use formula of loss percentage.

Loss % = 100xloss/cost price

Loss%= 100x35000/320000

Loss%= 10.9%