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To calculate the Loss we need to know “What is Loss?” When we sold an item or a product less than it’s actual price, then Loss occurs which means the product is sold for a low price than the actual price. Now coming to the formula to calculate Loss we have
Loss(L)= Cost Price (CP) – Selling Price(SP)
Here we can see the new terms “Selling price” and “Actual Price” or “Cost Price.” Let us discuss what they refer to.
Selling Price: The price of the product which was sold by the shopkeeper to the customer for a certain price is known as the selling price. Selling Price can also be written as SP. To calculate the Selling Price, we have a formula i.e.
Selling Price(SP)= Cost Price(CP) – Loss(L)
Cost Price: It is also called Actual Price, which means the actual cost of a product or original cost of a product or an item that was bought from the merchant or retailer. To calculate Cost Price, we have a formula i.e,
Cost Price(CP)= Selling Price(SP) + Loss(L)
In the above, we have discussed the related terms. Let’s discuss more about Loss with some examples covering every detail.
Solved Examples on Loss
1. Find the Loss if
a) SP= 80 and CP= 100
b) SP= 120 and CP= 150
c) SP= 200 and CP= 300
Solution:
a) SP= 80 and CP= 100
We know the formula to calculate the Loss as below
Loss(L)= Cost price (CP) – Selling price(SP).
Substituting the input data in the formula and doing basic math we get
= 100- 80
= 20
Loss= 20.
b) SP= 120 and CP= 150
Formula to calculate the Loss is as under
Loss(L)= Cost price (CP) – Selling price(SP).
Apply the input data you have in the formula and perform basic math
= 150-120
= 30
Loss= 30.
c) SP= 200 and CP= 300
Formula to calculate the Loss is as below
Loss(L)= Cost price (CP) – Selling price(SP).
Substitute the input information we have to find out the Loss
= 300- 200
= 100
Loss= 100.
2. A shopkeeper bought 5 dozens bananas for Rs 300 and sold them at Rs 250. How much he loses?
Solution:
The cost price of bananas= Rs 300
The selling price of bananas= Rs 250
Formula for Loss(L)= Cost Price (CP) – Selling Price(SP).
= Rs 300- Rs 250
= Rs 50.
Loss= Rs 50.
How to Calculate the Loss Percent?
Loss percent is the percent which is expressed as the percentage of the cost price. The formula of Loss Percent is
Loss %= (Loss/ Cost Price)×100. Cost Price is always considered for reference to determine whether you got Loss or Profit. We have listed few examples explaining the process on how to find the Loss Percentage. They are as such
1. Find Loss % if
a) SP= 80 and CP= 100
b) SP= 120 and CP= 150
c) SP= 200 and CP= 300
Solution:
a) SP= 80 and CP= 100
Formula to calculate the Loss(L)= Cost price (CP) – Selling price(SP).
= 100- 80
= 20
Loss= 20.
After finding the Loss we can determine the Loss % easily
Loss %= (Loss/ Cost Price)×100.
= (20/100) × 100
= 20%
b) SP= 120 and CP= 150
Formula to calculate the Loss(L)= Cost price (CP) – Selling price(SP).
= 150-120
= 30
Loss= 30.
Substitute the Loss value in th Loss % formula we have the equation as such
Loss%= (Loss/ Cost price)×100.
= (30/150)×100
= (1/5)×100
= 20%
c) SP= 100 and CP= 200
Apply the given input data in the formula for
Loss(L)= Cost price (CP) – Selling price(SP).
= 200- 100
= 100
Loss = 100.
Substitute the Loss in the Loss % we have the equation as such
Loss %= (Loss/ Cost Price)×100.
= (100/200)×100
= (1/2)×100
= 50.
2. A man purchased a scooter for Rs 50,000 and after two years he sold it for Rs 30,000. Find Loss and Loss percent.
Solution:
The cost price of a scooter = Rs 50,000
The selling price of a scooter= Rs 30,000
Loss(L)= Cost price (CP) – Selling Price(SP).
Substitute the input values in the formula of Loss we have
= Rs 50,000 – Rs 30,000
= Rs 20,000.
Apply the Loss in the Loss Formula we have
Loss %= (Loss/ Cost price)×100.
= (20,000/50,000)×100
= (2/5)×100
= 2×20
= 40%.
