[coolfield7]

Hi, I need some help in math.

In my textbook there is a question which says, "Peter bought an antique chest for $600 and was forced to sell it for $500. Find the loss as a percentage of the cost price."

What I understand by this is find the loss and stat that loss as a percentage, is this right?
In the textbook it says Loss = Cost price - Selling price

So he lost $100 but how do I convert this into a percentage? I've studied percentages pretty well on Khan Academy but the questions in my textbook are extremely idiotic and they don't even show how to do questions like these.

Thanks!

[ebaines]

The percentage loss is the ratio of the loss to the original cost. You already calculated the loss as $100, and you know the original cost is $600, so the ratio of loss to the cost is 100/600 = 1/6. Now convert this to percent: 1/6 x 100% = 16.7%. Hope this helps.

[coolfield7]

The percentage loss is the ratio of the loss to the original cost. You already calculated the loss as $100, and you know the original cost is $600, so the ratio of loss to the cost is 100/600 = 1/6. Now convert this to percent: 1/6 x 100% = 16.7%. Hope this helps.

Ahhhhhh ok! Thank you. You helped a lot! One other thing, 16.7% what is that representing? He lost 16.7% of his money? What is it and how would you state it?

[coolfield7]

This is weird... I got an email saying Subjecteachers has responded to my question but I don't see their answer anywhere here. Does anyone else see Subjecteachers's answer? Is this a glitch?

[ebaines]

This is weird... I got an email saying Subjecteachers has responded to my question but I don't see their answer anywhere here. Does anyone else see Subjecteachers's answer? Is this a glitch?

That post was deleted for violating site rules regarding advertising.

[coolfield7]

That post was deleted for violating site rules regarding advertising.

Ohhh ok; thanks!