Question

A man bought a cycle for $1300 and sold it for a loss of 30%. What is its selling price?​

Answer 1

What is the cost price?

The cost price is the original price of items or goods at which it is bought by the retailer.

What is the selling price?

The selling price is the price of items or goods at which it is sold to the customer.

What is loss?

A loss usually occurs in the transaction when the cost price of the item is more than the selling price of the item.

How to calculate the selling price?

The selling price of the cycle can be found by using the following formula:

$\boxed{\bold{Selling\:price = \frac{(100 - loss\%)}{100}\times Cost \:price }}$

Now, let's solve the given question:

The cost price of the cycle = $ 1300

The loss percentage = 30%

On substituting the values in the above formula of the selling price, we get

$Selling\:price = \frac{(100 - 30)}{100}\times 1300$

$\implies Selling\:price = \frac{70}{100}\times 1300$

$\implies Selling\:price =70\times 13$

$\implies \bold{Selling\:price =\ \:910}$

Thus, the selling price of the cycle is → $ 910.

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Answer 2

Given:

A man bought a cycle for $1300

He sold it for a loss of 30%.

To find:

The selling price of the cycle.

Solution:

A man bought a cycle for $1300 and sold it for a loss of 30%.

Therefore,

Selling price = 1300 - 30% of 1300

30% of 1300 = $\frac{30}{100}$ × 1300

30% of 1300 = 30 × 13

30% of 1300 = 390

A man sold it for a loss of $390

Then the selling price of the cycle is,

Selling price = 1300 - 390

Selling price = $910

Final answer:

The selling price of the cycle is $910