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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