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A merchant bought a bicycle for $500 and sold it for $450. What is the loss percentage?

Practice Questions

1 question
Q1
A merchant bought a bicycle for $500 and sold it for $450. What is the loss percentage?
  1. 10%
  2. 15%
  3. 20%
  4. 5%

Questions & Step-by-step Solutions

1 item
Q
Q: A merchant bought a bicycle for $500 and sold it for $450. What is the loss percentage?
Solution: Loss = Cost Price - Selling Price = $500 - $450 = $50. Loss Percentage = (Loss/Cost Price) * 100 = ($50/$500) * 100 = 10%.
Steps: 0

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