Question

a man sold a fan for ₹465.Find the cost price if he incurred a loss of 7%​

Answer 1

Cost Price = ₹500

Step-by-step explanation:

GIVEN

Selling Price = ₹465

Loss = 7%

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TO FIND

Cost Price

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We know that,

Cost Price = ( Selling Price × 100 ) / ( 100 - Loss Percent )

Cost Price = ( 465 × 100 ) / ( 100 - 7 )

Cost Price = 46500 / 93

Cost Price = 500

Cost Price = ₹500

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IMPORTANT

If Selling Price and Loss Percent is given and we have to find the Cost Price

They

Cost Price = ( Selling Price × 100 ) / ( 100 - Loss Percent )

If Selling Price and Profit Percent is given and we have to find the Cost Price

Then

Cost Price = ( Selling Price × 100 ) / ( 100 + Profit Percent )