Answer: Loss percent = 0.775%
Step-by-step explanation:
Here,
Total cost = Purchasing price + transportation
⇒ Total cost = 6375 + 75
⇒ Total cost = $ 6450
Selling price = $ 6400
Total cost > Selling price, hence it is a loss.
Loss percent formula :
[tex]Loss\% =\dfrac{\text{Loss}}{Total\ cost}\times100\\\\=\dfrac{Total\ cost - Selling price}{Total \ cost}\times100\\\\=\dfrac{6450-6400}{6450}\times100\\\\=\dfrac{50}{6450}\times100=0.775\%[/tex]
Hence, Loss percent = 0.775%
