If an article is sold for less than it cost, then it is said to
have been sold at a loss.
Loss is often expressed as a percentage of the cost price. This is
called the percentage loss.
Example 13
A car was purchased for $20 000 and is sold for $16 000. What is the
percentage loss?
Solution:
So, the car was sold at a percentage loss of 20%.
Key Terms
loss, cost price, selling
price, percentage loss |
