A bicycle is bought for $200 and sold for $180. What is the loss percentage?

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Question: A bicycle is bought for $200 and sold for $180. What is the loss percentage?

Options:

Correct Answer: 10%

Solution:

Loss = Cost Price - Selling Price = 200 - 180 = 20. Loss Percentage = (Loss/Cost Price) * 100 = (20/200) * 100 = 10%.

A bicycle is bought for $200 and sold for $180. What is the loss percentage?

A bicycle is bought for $200 and sold for $180. What is the loss percentage?

Step 1: Identify the cost price of the bicycle, which is $200.
Step 2: Identify the selling price of the bicycle, which is $180.
Step 3: Calculate the loss by subtracting the selling price from the cost price: Loss = Cost Price - Selling Price = 200 - 180.
Step 4: The loss is $20.
Step 5: To find the loss percentage, use the formula: Loss Percentage = (Loss / Cost Price) * 100.
Step 6: Substitute the values into the formula: Loss Percentage = (20 / 200) * 100.
Step 7: Calculate the loss percentage: (20 / 200) = 0.1, then multiply by 100 to get 10%.
Step 8: The loss percentage is 10%.

Loss Calculation – Understanding how to calculate loss by subtracting the selling price from the cost price.
Loss Percentage – Calculating the percentage of loss relative to the cost price.