Question

Mr. Nelson sold a car for $1,380 that cost

him $1,500. What was his percent of loss
based on the cost?​

Answer 1

The loss is $120 and the loss percentage is 8%.

Explanation:

Given that,

SP of a car = $1,380

CP of a car = $1,500

As CP > SP, it means there is a loss in selling of that car.

Loss = CP - SP

= $1,500 - $1,380

= $120

Loss percentage,

`\%=(loss)/(CP)* 100\\\\=(120)/(1500)* 100\\\\=8\%`

Hence, the loss is $120 and the loss percentage is 8%.