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A car is bought for $20,000 and sold for $18,000. What is the loss percentage?
Practice Questions
Q1
A car is bought for $20,000 and sold for $18,000. What is the loss percentage?
10%
12%
8%
15%
Questions & Step-by-Step Solutions
A car is bought for $20,000 and sold for $18,000. What is the loss percentage?
Steps
Concepts
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.
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