Question

Arthur runs an electronics shop. He recently bought a new air conditioner for 32,000. He sold the AC for 28,000 what is Arthur’s loss percent

Answer 1

Answer:

12.5%

Step-by-step explanation:

Given parameters:

Cost price  = 32000

Selling price of the AC = 28000

Unknown

Arthur's loss percent = ?

Solution:

To find the loss percent; use the formula below;

  Arthur's loss percent  = $\frac{|selling price - cost price|}{cost price} x 100$

Input the parameters and solve;

  Arthur's loss percent = $\frac{|28000 - 32000|}{32000}$ x 100 = 12.5%

His loss percentage is  12.5%