Question

A sofa set purchased for Rs 12000 and sold at Rs 1300.
Find the profit or loss percent.​

Answer 1

Given,

The sofa set is purchased for Rs 12000 ( cost price).

The sofa set is sold at Rs 1300 (selling price).

To find,

The profit or loss percent.

Solution,

The cost price of the sofa set is Rs 12000.

The selling price of the sofa set is Rs 1300.

Since the cost price is more than the selling price, there is a loss.

Therefore, the loss amount is ( 12000 - 1300 ) = Rs 10,700.

The loss percentage is calculated by dividing the loss amount by the cost price and multiplying it by 100.

The loss percentage is approximately 89 percent.

Hence, the loss percent is 89 percent.