If a person buys a watch for $80 and sells it for $64, what is the loss percenta

₹0.0

Question: If a person buys a watch for $80 and sells it for $64, what is the loss percentage?

Options:

Correct Answer: 25%

Solution:

Loss = Cost Price - Selling Price = 80 - 64 = 16. Loss Percentage = (Loss/Cost Price) * 100 = (16/80) * 100 = 20%.

If a person buys a watch for $80 and sells it for $64, what is the loss percentage?

If a person buys a watch for $80 and sells it for $64, what is the loss percentage?

Step 1: Identify the cost price of the watch. The cost price is $80.
Step 2: Identify the selling price of the watch. The selling price is $64.
Step 3: Calculate the loss by subtracting the selling price from the cost price. Loss = Cost Price - Selling Price = 80 - 64.
Step 4: Perform the subtraction. 80 - 64 equals 16. So, the loss is $16.
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 = (16 / 80) * 100.
Step 7: Perform the division. 16 divided by 80 equals 0.2.
Step 8: Multiply the result by 100 to find the percentage. 0.2 * 100 equals 20.
Step 9: Conclude that the loss percentage is 20%.

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.