Question

Arthur runs an electronics shop. He recently bought a new air conditioner for 32,000. He sold the AC for 28,000 what is Arthur’s loss percent

Answer 1

12.5%

Explanation:

Given parameters:

Cost price = 32000

Selling price of the AC = 28000

Unknown

Arthur's loss percent = ?

Solution:

To find the loss percent; use the formula below;

Arthur's loss percent =
`(|selling price - cost price|)/(cost price) x 100`

Input the parameters and solve;

Arthur's loss percent =
`(|28000 - 32000|)/(32000)` x 100 = 12.5%

His loss percentage is 12.5%