If a person buys a laptop for $800 and sells it for $720, what is the loss perce

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Question: If a person buys a laptop for $800 and sells it for $720, what is the loss percentage?

Options:

Correct Answer: 12.5%

Solution:

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

If a person buys a laptop for $800 and sells it for $720, what is the loss percentage?

If a person buys a laptop for $800 and sells it for $720, what is the loss percentage?

Step 1: Identify the cost price of the laptop, which is $800.
Step 2: Identify the selling price of the laptop, which 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: Calculate the loss amount: Loss = 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: Calculate the loss percentage: Loss Percentage = 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 using the formula (Loss/Cost Price) * 100.