Question 53

The cost price of a car is five times the loss incurred on selling this car. What is the loss percentage?

Solution

Let's assume the cost price and selling price of the car are 'cp' and 'sp' respectively.

The cost price of a car is five times the loss incurred on selling this car.

cp = 5(cp-sp)

cp = 5cp - 5sp

5cp - cp = 5sp

4cp = 5sp

$$\frac{cp}{sp}\ =\ \frac{5}{4}$$

Let's assume cp = 5y and sp = 4y.

loss percentage = $$\frac{\left(cp-sp\right)}{cp}\times100$$

= $$\frac{\left(5y-4y\right)}{5y}\times100$$

= $$\frac{y}{5y}\times100$$

= 20%

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