Question

Fill in the blanks to make the statement true:

Nasim bought a pen for $₹60$ and sold it for $₹54$.

His ______ $\%$ is ______.

• A. Loss
• B. $10$

Answer 1

Evaluate Profit or Loss

Given, Cost Price (CP) of the pen $=₹60$

and, Sale Price (SP) of the pen $=₹54$

As cost price is greater than sale price, thus, Nasim makes a “Loss” on sale of pen.

We know that, $\mathrm{Loss}=\mathrm{Cost}\mathrm{Price}-\mathrm{Sale}\mathrm{Price}$

$$\begin{gathered} \Rightarrow L=CP-SP \\ \Rightarrow L=60-54 \\ \Rightarrow L=₹6 \end{gathered}$$

Now, we evaluate the loss percentage using the formula, $\mathrm{Loss}\%=\frac{\mathrm{Loss}}{\mathrm{CP}}\times 100$

$$\begin{gathered} \Rightarrow L\%=\frac{6}{60}\times 100 \\ \Rightarrow L\%=10\% \end{gathered}$$

Therefore, Nasim makes a $10\%$ loss on sale of the pen.