Loss and Loss Percent are used for calculating the loss that occurred in a business. The loss is the difference between the cost price and the selling price. Loss Percent is the percent of loss in terms of actual cost price. The loss will occur when the selling price is less than the cost price. We have given how to Calculate Loss and Loss Percent and the formula of loss. Know the process to find them and learn how to apply them in your real life. Also, check the solved examples for a better understanding.
Do Read:
- Concept of Profit and Loss
- Calculate Profit and Profit Percent
- Examples on Calculating Profit or Loss
Formula to Calculate Loss and Loss Percent
The loss occurs when a cost price is more than the selling price of a product in a business. The loss is calculated by subtracting the selling price from a cost price. The formula to calculate loss and loss percentage are
- Loss = Cost Price – Selling Price when the Cost Price is higher than the Selling Price.
or
Loss = C.P. – S.P. (C.P.>S.P.) - Loss percentage = (Loss × 100) / C.P
- Selling Price: The Selling Price is the price of a product that was sold by the shopkeeper to the customer for a particular price. Selling price is denoted by S.P.
Selling Price(SP)= Cost Price(CP) – Loss(L) - Cost Price: The cost price is the price of a product it is the original cost of a product that was brought from the retailer. Cost Price is denoted by C.P.
Cost Price(CP)= Selling Price(SP) + Loss(L)
Loss and Loss Percent Examples
Example 1.
A shirt was bought for $300 and sold for $250. Find the loss and loss percent.
Solution:
Given that a shirt was bought for $300 and sold for $250.
The cost price = $300
Also, the selling price = $250
Since, S. P. < C. P., there is loss.
Therefore, loss = cost price – selling price
Substitute the cost price and selling price in the above formula.
Loss = $300 – $250 = $50.
So, loss% = loss/cost price × 100%
Substitute the cost price and loss in the above formula.
loss% = $50/$300 × 100% = 16.66%
Therefore, the loss is $50 and the loss% is 16.66%
Example 2.
If the cost price of 30 pens is equal to the selling price of 35 pens, find a loss percent?
Solution:
Given that the cost price of 30 pens is equal to the selling price of 35 pens.
Let cost price of 1 pen = $1
Then cost price of 30 pens = $30
Also, cost price of 35 pens = $35
Since, selling price of 35 pens = cost price of 30 pens
Therefore, the selling price of 25 pens = $30
Therefore, loss = cost price – selling price
Loss = $35 – $30 = $5.
Therefore, loss% = loss/cost price × 100
loss% = $5/$35 × 100
loss% = 14.28%
Therefore, the loss is $5 and the loss% is 14.28%
Example 3.
Find the loss and loss percentage provided that the cost price is Rs. 60 and the selling price is Rs. 55.
Solution:
Given that the cost price is Rs. 60 and the selling price is Rs. 55.
The cost price = Rs. 60
Also, the selling price = Rs. 55
Since, S. P. < C. P., there is loss.
Therefore, loss = cost price – selling price
Substitute the cost price and selling price in the above formula.
Loss = Rs. 60 – Rs. 55 = Rs. 5.
So, loss% = loss/cost price × 100%
Substitute the cost price and loss in the above formula.
loss% = Rs. 5/Rs. 60 × 100% = 8.33%
Therefore, the loss is Rs. 5 and the loss% is 8.33%
Example 4.
If a house was bought by a man for Rupees 60 Lakhs and he sold it in 40 Lakhs. What is a loss percentage from this business?
Solution:
Given that a house was bought by a man for Rupees 60 Lakhs and he sold it in 40 Lakhs.
The cost price = Rs. 60 Lakhs
Also, the selling price = Rs. 40 Lakhs
Since, S. P. < C. P., there is loss.
Therefore, loss = cost price – selling price
Substitute the cost price and selling price in the above formula.
Loss = Rs. 60 Lakhs – Rs. 40 Lakhs = Rs. 20 Lakhs.
So, loss% = loss/cost price × 100%
Substitute the cost price and loss in the above formula.
loss% = Rs. 20 Lakhs/Rs. 60 Lakhs × 100% = 33.33%
Therefore, the loss is Rs. 20 Lakhs and the loss% is 33.33%
FAQs on Loss and Loss Percent
1. How do you calculate percentage loss?
Follow the below steps to find the percentage loss.
1. Note down the cost price.
2. Then, check out the Selling Price, and calculate the loss.
3. Substitute the Loss and cost price in the Loss percentage formula.
4. Finally, find the Loss percentage.
Loss percentage = (Loss × 100) / C.P
2. What are the Loss and Loss Percent Formulas?
The formula for Loss and Loss Percent are
Loss = C.P. – S.P. (C.P.>S.P.)
Loss percentage = (Loss × 100) / C.P where C.P. is cost price and S.P. is selling price.
3. What is the formula for S.P when Loss and C.P. are given?
The formula for Loss = C.P. – S.P.
Therefore, S.P. = C.P. – Loss
4. How to find the C.P. when Loss and S.P. are given?
The formula for Loss = C.P. – S.P.
Therefore, C.P. = Loss + S.P.
5. How to find loss from loss percentage?
The Loss percentage = (Loss × 100) / C.P
Firstly, multiply C.P with Loss percentage and then divide it by 100 to get a Loss from the loss percentage.
Loss = (Loss percentage × C.P)/100