Question 53

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

Solution

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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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