Question

Find the gain or loss percent in the following case$:$

$S.P.$ $₹10$ and loss $₹2$

Answer 1

Step $1:$ To find the loss or gain percent.

It is given that loss $=$$₹2$

and $S.P.$ $=$ $₹10$

$Loss$ $=$$C.P.-S.P.$

$C.P.=Loss+S.P.$

$C.P.=2+10$

$C.P.=12$

Step $2:$ Now find the loss percent.

Loss percent $=\frac{C.P.-S.P}{C.P}\times 100$

Gain percent $=\frac{Loss}{C.P.}\times 100$

$=\frac{2}{12}\times 100$ $,$ cancel $12$ by $2$

$=\frac{100}{6}$

$=16.66\%$

Hence, the loss percent is $16.66\%$