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If a calendar costs $24 and is sold at a loss of 20%, what is the selling price?

Practice Questions

Q1
If a calendar costs $24 and is sold at a loss of 20%, what is the selling price?
  1. $20
  2. $22
  3. $18
  4. $24

Questions & Step-by-Step Solutions

If a calendar costs $24 and is sold at a loss of 20%, what is the selling price?
  • Step 1: Identify the cost price of the calendar, which is $24.
  • Step 2: Calculate the loss percentage, which is 20%.
  • Step 3: Find the amount of loss by calculating 20% of $24. This is done by multiplying 24 by 0.20.
  • Step 4: Calculate the loss amount: 24 * 0.20 = $4.
  • Step 5: Determine the selling price by subtracting the loss from the cost price. This is done by taking $24 and subtracting $4.
  • Step 6: Calculate the selling price: 24 - 4 = $20.
  • Percentage Loss Calculation – Understanding how to calculate a percentage loss from a cost price and how it affects the selling price.
  • Selling Price Formula – Applying the formula for selling price, which is Cost Price minus Loss.
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