Question

Navin purchased a cell phone for Rs.12000 and sold it for Rs.8000. Find his loss percent.

Answer 1

Hint: We mark cost price as CP and we mark selling price as SP. Now, we have CP as 12000 and SP as 8000, we use the formula of $\text{Loss}=CP-SP$ to find the loss handled by Navin. Then, once we have the value of the loss, we will go to find the loss percentage. To calculate the loss percentage, we will use the formula given below:
\[\text{Loss}\%=\dfrac{\text{Loss}}{CP}\times 100\]
We use the value of loss and CP to further solve the question.

Complete step by step answer:
We are given that, Navin purchased a cell phone for Rs.12000 and sold at Rs.8000. We have to find the loss percentage.
We are given, the cost of the phone as Rs.12000. So, mark the cost of the phone as a cost price (CP). So,
We have a cost price (CP) = 12000
\[\therefore CP=12000\]
Now, we know that Navin sold the phone at Rs.8000. So mark it as selling price (SP). So,
We have selling price (SP) = 8000
\[\therefore SP=8000\]
We know, loss occurs when the cost price is more than the selling price. Now, as we see
\[CP=12000\text{ }>\text{ }SP=8000\]
So, clearly, Navin had a loss. Now, we will find the value of the loss he bared.
Loss is given as the difference of the cost price and selling price, that is,
\[\begin{align}
  & \text{Loss}=CP-SP \\
 & \text{As }CP=12000,SP=8000 \\
\end{align}\]
So,
\[\text{Loss}=12000-8000\]
Solving further we get:
\[\text{Loss}=4000\]
Now, we are asked to find the loss percentage.
We know loss percentage is given as \[\text{Loss}\%=\dfrac{\text{Loss}}{CP}\times 100\]
So, as loss value is 4000 and cost price is 12000, using this values in above formula, we get:
\[\text{Loss}\%=\dfrac{\text{4000}}{12000}\times 100\]
Now simplifying we get:
\[\text{Loss}\%=\dfrac{\text{4}}{12}\times 100\]
Solving further, we get:
\[\text{Loss}\%=33.3\%\]

Note:
 Similarly, for the case of profit percentage, we first have to find the profit using formula $\text{Profit}=SP-CP$ as we know, profit occurs when the selling price is more than the cost price. Once we get the value of profit, we use the formula $\text{Profit}\%=\dfrac{\text{Profit}}{CP}\times 100$ to find profit percentage.