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

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

Options:

Correct Answer: 25%

Solution:

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

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

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

Step 1: Identify the cost price of the watch, which is $120.
Step 2: Identify the selling price of the watch, which is $90.
Step 3: Calculate the loss by subtracting the selling price from the cost price: 120 - 90.
Step 4: The loss is $30.
Step 5: To find the percentage loss, divide the loss by the cost price: 30 / 120.
Step 6: Calculate the result of the division: 30 / 120 = 0.25.
Step 7: To convert this to a percentage, multiply by 100: 0.25 * 100.
Step 8: The percentage loss is 25%.

Loss Calculation – Understanding how to calculate loss by subtracting the selling price from the cost price.
Percentage Calculation – Applying the formula for percentage loss, which involves dividing the loss by the cost price and multiplying by 100.