Calculation of Loss Percent: Loss Percentage is a unique idea where several examples exist straightly or accidentally depending on this theory. This article helps the students to understand easily about the loss percent through the unique descriptions, Formulas, and exampled solved. Continue reading to know about the loss percentage formula, procedure on how to find the Loss Percentage as we have covered everything related to the topic.
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Percentage of Loss – Definition
Loss is a Section of standard mathematics that concerns the losses that exist in a particular business. Percentage Loss is employed for conveying the amount of Loss experienced as a percentage. To calculate the Loss Percentage we need to extract the Loss which is nothing but subtracting the selling price from a Cost Price. Then multiply the resultant loss by 100.
Loss Percentage Formula
The formula to calculate the Loss Percentage with the Expression stated as below:
Loss% = ( Loss/Cost Price)*100,
Where Loss = Cost Price – Selling Price
Selling Price: The Price paid to buy the specific product. This selling price is shortly indicated as S.P.
Cost Price: It is the amount of price that a manufacturer buys for a specific product. Shortly indicated as C.P. It plays a unique role in Calculating the Loss generated for a manufacturer.
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How to Calculate the Loss Percentage?
Firstly, Observe the complete way to obtain the Loss percentage in detail with steps as specified below. Go with the approach and make sure your operations are easier and fast.
- First, have a look at the cost price and selling price that a manufacturer buys a product.
- Subtract the provided Selling price from the Cost price for attaining the Loss.
- substitute the Loss which is attained in the above step and divide it with Cost price.
- Multiply the Outcome in the above step with 100.
- The overall Result obtained proceeding steps is nothing but the Loss Percent.
Calculation of Loss Percentage Examples
Question 1:
A Shopkeeper bought a Pencil for Rupees 500 and sold Rupees 420. Calculate the loss and loss percent that a Shopkeeper Faced.
Solution:
1.Cost price of pencil = Rupees 500 and Selling price of Pencil = Rupees 420
2.Calculate the Loss =cost price – selling price
= 500-420
= 80
3.Substitute the obtained Loss in above Step in the Loss percentage Formula = Loss /Cost Price *100
= (80/500)*100
= 0.16 *100
= 16 %
Question 2:
If Amar buys the papayas in huge amounts each one charges Rupees 50. He again sells the papayas charging each one for Rupees 40. Find out the loss and Loss percentage formulas.
Solution:
1. Given the Selling price of papayas = Rupees 40 and the Cost price of papayas = Rupees 50
2. Calculate the Loss =cost price – selling price
= 50-40
= 10
3. Substitute the obtained Loss in the above Step in the Loss percentage Formula = Loss /Cost Price *100
= (10/50)*100
= 20%
Question 3:
Ramya Bought a car for 2 Lakh Rupees often need to spend some extra charges Rupees 24000 to repair. Because of a little bit of technical problem, she thought to hold it for 1 Lakh only. Calculate the Loss percent for Ramya.
Solution:
1. Given Cost Price of car = 2 Lakhs + Extra Charges = 2 Lakhs + 24000 = 2,24,000 and Selling price of car = 1 Lakh
2. Calculate Loss = cost price – selling price
= 2,24,000 – 100000
= 1,24,000
3. Substitute the obtained Loss in above Step in the Loss percentage Formula = Loss /Cost Price *100
= (1,24,000/2,24,000)*100
= 55.35%
FAQs on Calculating Loss Percentage
1. What is Loss?
It is a subtraction of offered Cost price from the Selling price. i.e. Cost price- Selling Price.
2. What is meant by Loss Percentage?
The amount of Loss is stated in the phrases of percentage.
3. Why percentage loss is needed?
In order to know the amount of Loss that a manufacturer faced when he sold a product.
4. How to Calculate the Loss percentage?
It is calculated by utilizing the formula i.e. Loss % = Loss/Cost Price × 100%