Question

Mary bought a scooter for rs20,000 and sold it for 18,000.Find out the loss percentage incurred by mary in this business

Answer 1

Cost price =

Rs.20000

Selling price = Rs.18000

Hence,

Loss = C.P. - S.P.

= Rs.(20000-18

000) = Rs. 2000

Loss percent = Loss/ C.P. * 100 = 2000/20000 *100 = 10%

Hence, loss percent is 10.