Loss

Loss occurs in situations where an item is sold for less than it is worth or costs. Have you ever gone to a store and because an item was damaged and it was sold to you  at a lesser price?

When this happens the owner of the item has made a loss because they sold the item for less than they paid for it.

Example

a)A man buys a table for $200 but resells it for $150. What is the loss made?

b) Calculate the loss as a percentage of the cost price.

a)

Loss = Cost Price - Selling Price

Loss = $200 - $150

Loss = $50


b)

Loss = $50        ,         Cost Price = $200

Loss Percentage = (Loss ÷ Cost Price) x 100%

Loss Percentage = ($50 ÷ 200) x 100%

Loss Percentage = 25%

Share the solutions to the following questions

1) A woman buys a vase $50 but after a few days decides to get rid of it quickly by selling it at $40. Determine the loss made.

2) The cost price of an item is $75 but is re-sold at $15 loss, What is the selling price of the item?

3) If an item is bought for $100 and re-sold for $80. Determine the loss percentage .



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