Question

cost price of an air cooler is 1 1/4 of its selling price find loss percent

Answer 1

The loss percentage is 20%.

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Let's understand a few concepts:

What is the cost price?

The cost price is the original price of items or goods at which it is bought by the retailer.

What is the selling price?

The selling price is the price of items or goods at which it is sold to the customer.

What is profit?

A profit usually occurs in the transaction when the selling price of the item is more than the cost price of the item.

What is loss?

A loss usually occurs in the transaction when the cost price of the item is more than the selling price of the item.

How to calculate the profit/loss percentage?

We will use the following formula to calculate the profit/loss percentage:

$\boxed{\bold{Profit\% = \frac{S.P. - C.P.}{C.P.} \times 100}}\\\\\\\\\boxed{\bold{Loss\% = \frac{C.P. - S.P.}{C.P.} \times 100}}$

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Let's solve the given problem:

Let the S.P. of the air cooler be "x".

So,

The C.P. of the air cooler = $1\frac{1}{4} \:of\:S.P. = \frac{5}{4} \times S.P. = \frac{5x}{4}$

Therefore, by using the above formula of loss percentage, we get,

The loss percentage incurred in the whole transaction is,

= $\frac{\frac{5x}{4}\: -\: x }{\frac{5x}{4} } \times 100$

= $\frac{\frac{5x - 4x}{4} }{\frac{5x}{4} } \times 100$

= $\frac{\frac{x}{4} }{\frac{5x}{4} } \times 100$

= $\frac{1}{5} \times 100$

= $\bold{20\%}$

Thus, the loss percentage in the whole transaction is 20%.

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