Question

A radio set costing $₹5000$ is sold at $₹4000$. Find the gain or loss per cent.

Answer 1

Given that -

Cost price of radio $=₹5000$

Selling price of radio $=₹4000$

$$\begin{gathered} Loss=CP-SP \\ =₹(5000-4000) \\ =₹1000 \\ Loss\%=\frac{Loss}{CP}\times 100 \\ =\frac{1000}{5000}\times 100 \\ =20\% \end{gathered}$$

Hence, loss percent is $20\%$.