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Seeds worth Rs. 20500, labour Rs. 9700, chemicals and fertilizers Rs. 5600 and selling price Rs. 28640. Calculate the percentage loss.

Last updated date: 17th Jul 2024
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Hint: Use the information, percentage loss can be calculated as $\dfrac{{Loss}}{{SP}} \times 100$ where SP stands for selling price. We need to find the loss which is the difference of selling price and total expense. Then, in the end, putting the values in the formula will lead us to the answer.

Complete step-by-step answer:
We have given the cost price of seed as Rs. 20500, cost price of labour as Rs. 9700 and cost price of chemicals and fertilizers as Rs. 5600.

So, total expenses E \[ = 20500 + 9700 + 5600\] which is equal to Rs. \[35800\]. Selling price SP is given to us as 28640.

Here, we should observe that the selling price is higher than total expense. So, the vendor/person must be in loss and the loss amount will be equal to their difference which is $35800 - 28640 = 7160$.

We have got our loss as Rs. 7160. Now, let’s find the percentage loss. For this we know the formula $\dfrac{{Loss}}{{SP}} \times 100$.

On putting the values, we get, $\dfrac{{7160}}{{35800}} \times 100 \Rightarrow \dfrac{{7160}}{{358}} = 20$. Hence the required percentage loss is 20%.

Note: For profit and loss problems, it’s always recommended to be empathetic with the problem which is given to us. It’ll enhance our understanding of the problems and more likely we’ll be able to solve this problem.