Question

You bought a book for R300 and sold it a year later for R240. What is the percentage loss

Answer 1

20% is the answer to your question

Explanation:

60/300 x 100

Answer 2

The calculations for the loss would be as follows:

Loss = (Cost - Sale Proceeds)/Cost * 100%

Loss = (R300 - R240)/R300 * 100% = 20%

Therefore, you had a 20% loss when you sold the book for R240 after originally buying it for R300.