Question

Need help solving this problem please.

Andrei buys a painting and sells it to Boris
Andrei makes a 60% profit on the sale
Boris sells the painting to Clarissa
Clarissa pays 1.5times the price that andrei paid for the painting
Boris made a loss

What is his loss as a % of the ammount he paid

show your work

Answer 1

Suppose A buys in $100
A sells it to B in 100 +(100 * 60/100) = $160
B sells it to C and pays 1.5 times the original price i.e. 100 * 1.5 = $150

Loss to B = 160-150 = $10

Loss percentage to B = (10/160)*100 = 6.25%

Answer 2

Thank you very much.