Final answer:
The loss percentage of a product that was bought for $10,200 and sold for $8,175 is approximately 19.85%.
Step-by-step explanation:
To calculate the loss percentage of a product with a cost price of $10,200 and a selling price of $8,175, we need to first determine the absolute loss, which is the difference between the cost price and the selling price. Here's the formula for the loss percentage:
Absolute loss = Cost price - Selling price
Loss percentage = (Absolute loss / Cost price) × 100%
Applying these formulas, we get:
Absolute loss = $10,200 - $8,175 = $2,025
Loss percentage = ($2,025 / $10,200) × 100% ≈ 19.85%
So, the loss percentage is approximately 19.85%.