Afzal buys a laptop for 48,000, but later sells it for 40,000. Calculate his loss%
Given :
Afzal buys a laptop for 48,000 and resale it for 40,000.
To do :
We have to calculate the loss percentage.
Solution :
The cost price of the laptop $= 48000$
The selling price of the laptop $= 40000$
$Loss percentage = \frac{CP - SP}{CP} \times 100$
$ = \frac{48000 - 40000}{48000} \times 100$
$ = \frac{8000}{48000} \times 100$
$ = \frac{1}{6} \times 100$
$ = \frac{100}{6} = 16.66$
Therefore, the percentage of loss is 16.66%.
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