Question

A man buys a second hand mobile phone for 5,500. He sells it an 450. Find the percent of his gain in selling the mobile phone.

Answer 1

loss is 91.8%

Explanation:

The man made a loss not a gain

%loss = CP - Sp/Cp * 100

%loss = 5500 - 450/5500 * 100

%loss = 5050/5500 * 100

%loss = 0.918 * 100

%loss = 91.8%

Hence the man percentage loss is 91.8%