Question

Mr. Black bought a television set for $450.00. He later sold the television set at a loss of 30%. (a) Calculate the amount of the loss.​

Answer 1

The amount of the loss exists 1350.

What is the amount of loss?

Amount of Loss means an amount equivalent to the outstanding balance of the principal amount, less any amounts recognized by perfecting rights under a security agreement, together with such interest as the executive director shall permit, to a maximum of such interest as may be permitted by rule.

Given: Mr. Black purchased a television set for $450.00. He subsequently sold the television set at a defeat of 30%.

From the given information, we get

$4500\cdot \frac{30}{100}$

simplifying, we get

$4500\cdot \frac{30}{100}$

= 1350

Therefore, the amount of the loss exists 1350.

To learn more about opportunity loss refer to:

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