Tina bought her car for $6000 and later sold it for 4500. Find the loss as a percentage of the cost price.
Answer
Find out the loss as a percentage of the cost price.
To prove
As given
Tina bought her car for $6000 and later sold it for $4500.
i.e Cost price = $6000
Selling price = $4500
Loss = Cost price - Selling price
= $6000 - $ 4500
= $1500
Loss percentage formula
\(Loss\ percentage = \frac{loss\times 100}{cost\ price}\)
Put all the values in the formula
\(Loss\ percentage = \frac{1500\times 100}{6000}\)
= 25%
Therefore the loss percentage is 25% .