A person bought a laptop for $800 and sold it for $720. What is the loss percent

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Question: A person bought a laptop for $800 and sold it for $720. What is the loss percentage?

Options:

Correct Answer: 15%

Solution:

Loss = Cost Price - Selling Price = 800 - 720 = 80. Loss Percentage = (Loss/Cost Price) * 100 = (80/800) * 100 = 10%.

A person bought a laptop for $800 and sold it for $720. What is the loss percentage?

A person bought a laptop for $800 and sold it for $720. What is the loss percentage?

Step 1: Identify the cost price of the laptop. The cost price is $800.
Step 2: Identify the selling price of the laptop. The selling price is $720.
Step 3: Calculate the loss by subtracting the selling price from the cost price. Loss = Cost Price - Selling Price = 800 - 720.
Step 4: Perform the subtraction. Loss = 800 - 720 = $80.
Step 5: Calculate the loss percentage using the formula: Loss Percentage = (Loss / Cost Price) * 100.
Step 6: Substitute the values into the formula. Loss Percentage = (80 / 800) * 100.
Step 7: Perform the division. 80 / 800 = 0.1.
Step 8: Multiply by 100 to find the percentage. 0.1 * 100 = 10%.
Step 9: Conclude that 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.