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Finding Discounts

Mohit bought ...

Question

Mohit bought a bike for ₹1,00,000. After two years he sells it at ₹56,000. Calculate the loss %.

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Solution

Cost Price of the bike that Mohit bought = ₹1,00,000
Selling price of the bike = ₹56,000
So, loss incurred = ₹1,00,000 - ₹56,000 = ₹44,000
Loss % = (Loss/Cost Price) x 100
= (44,000/1,00,000) x 100
= 44%

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