Answer:
Percentage loss is 99.5%
Solution:
As per the question:
Mass of the bullet, m = 20 g = 0.020 kg
Mass of plate,

Mass of the second plate,

Now,
To calculate the percentage loss:
By using the principle of conservation of energy:
Since, the velocity with which the bullet is fired is
and then after piercing through the plates the bullet gets embed in it and hence moves with the same velocity, v as that of the plates:

= initial velocity of the bullet
v = final velocity of the combination
Thus by substituting the appropriate values in the eqn to find 'v':

Now, the loss in the velocity of the bullet:

Percentage loss =
= 99.5%