Question

Virat and Samrat together invested Rs. 50,000 and 120,000 respectively to start a business. They suffered a loss of 20%. How much loss did each of them incur?

Answer 1

Hint: To calculate the loss incurred by each of them, we will calculate 20% of the money invested by Virat and 20% of the money invested by Samrat. It is given that money invested by Virat \[=\text{ }Rs.\text{ }50000\] . Hence, Loss incurred by Virat \[=20\%\text{ of }50000\] . Solving this we will get the loss incurred by Virat. Also, money invested by Samrat \[=\text{ }Rs.\text{ }120000\] . Loss incurred by Samrat \[=20\%\text{ of }120000\] .
Solving this we will get the loss incurred by Samrat.

Complete step by step answer:
We need to find the loss incurred by Virat and Samrat.
It is given that money invested by Virat \[=\text{ }Rs.\text{ }50000\]
Also, money invested by Samrat \[=\text{ }Rs.\text{ }120000\]
It is also given that percentage of loss \[=\text{ }20\%\]
Let us find the loss incurred by Virat.
Loss incurred by Virat \[=20\%\text{ of }50000\]
\[20%\] can be written as \[\dfrac{20}{100}\] .
Hence, Loss incurred by Virat \[=\dfrac{20}{100}\ \text{ of }50000\]
This is written as
Loss incurred by Virat \[=\dfrac{20~}{100}\times 50000\]
Cancelling the zeroes from numerator and denominator, we will get
Loss incurred by Virat \[=2\times 5000\]
On multiplication, we will get
Loss incurred by Virat \[=Rs.10000\]
Now let us find the loss incurred by Samrat.
Loss incurred by Samrat \[=20\%\text{ of }120000\]
Changing percentage to number, we will get
Hence, Loss incurred by Samrat \[=\dfrac{20}{100}\ \text{ of }120000\]
This is written as
Loss incurred by Samrat \[=\dfrac{20~}{100}\times 120000\]
Cancelling the zeroes from numerator and denominator, we will get
Loss incurred by Samrat \[=2\times 12000\]
On multiplication, we will get
Loss incurred by Samrat \[=Rs.24000\]

Hence , Loss incurred by Virat is \[Rs.10000\] and Loss incurred by Samrat is \[Rs.24000\].

Note: One must know the difference between profit and loss as some students often get confused between profit and loss. PROFIT is gained when the cost price is more than the selling price. LOSS is incurred when the cost price is less than the selling price. Also the conversion of percentage to number is important.