A car is bought for £4950. It is sold 2 years later for £3300. Calculate the loss as a percentage on the cost price (correct to 1 dp)

Answer 1

The loss on the car can be calculated as follows:

Loss = cost price - selling price

Loss = £4950 - £3300 = £1650

To find the loss as a percentage of the cost price:

Loss percentage = (Loss / Cost price) x 100%

Loss percentage = (1650 / 4950) x 100%

Loss percentage = 0.333 x 100%

Loss percentage = 33.3%

Therefore, the loss as a percentage on the cost price is 33.3%.