The present paper investigates the Luminescent Solar Concentrator (LSC) with single and dual waveguide coated with perylene dye of various concentrations. Monte Carlo simulations are carried out to assess the efficiency of the LSC with the waveguide areas varying from 10 to 110 cm2, and the dye concentration varying from 30 to 800 PPM. The percentage of dye area coated in the waveguides is varied from 20 to 80%. Results indicate that the LSC efficiency increases with dye concentration up to a particular value, and thereafter shows a decreasing trend. Further, LSC efficiency is found to be increasing with a decrease in waveguide size. Experimental and simulation results indicate the maximum efficiency at the dye coverage area of 50%. Simulation results indicate the maximum LSC efficiency of around 9%, while the same is around 6% when examined experimentally.