High-efficiency solar cells based on organometal-halide perovskites have been extensively reported. While there are many reports in literature regarding improved performance in these devices, only few reports provide detailed performance and theoretical efficiency limits in perovskite-based solar cells (PSCs). An analytical model accounting for both optical and electrical losses in a PSC has been largely unexplored. Our calculations provide a simple semi-analytical framework for the analysis of different loss mechanisms in a PSC, which enables the determination of theoretical performance and loss limits more accurately. We believe that this will aid in the design of high-performance PSCs.