A person bought a watch for $120 and sold it for $90. What is the loss percentag

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Question: A person bought a watch for $120 and sold it for $90. What is the loss percentage?

Options:

Correct Answer: 25%

Solution:

Loss = Cost Price - Selling Price = 120 - 90 = 30. Loss Percentage = (Loss/Cost Price) * 100 = (30/120) * 100 = 25%.

A person bought a watch for $120 and sold it for $90. What is the loss percentage?

A person bought a watch for $120 and sold it for $90. What is the loss percentage?

Step 1: Identify the cost price of the watch. The cost price is $120.
Step 2: Identify the selling price of the watch. The selling price is $90.
Step 3: Calculate the loss by subtracting the selling price from the cost price. Loss = Cost Price - Selling Price = 120 - 90.
Step 4: Perform the subtraction. Loss = 120 - 90 = $30.
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 = (30 / 120) * 100.
Step 7: Perform the division. 30 divided by 120 equals 0.25.
Step 8: Multiply the result by 100 to get the percentage. 0.25 * 100 = 25%.
Step 9: Conclude that the loss percentage is 25%.

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.