Question

a shopkeeper sells an article at rupees 320,thus suffering a loss of 20%. find the cost price?

Answer 1

Let CP of the article be x.
Given that , loss%=20% & SP= ₹320
.: Loss=₹(x-320). [Loss = CP-SP]
By formula,
Loss%=( Loss ÷CP) ×100%
=>20={(x-320)÷x}×100
=>x=5x-1600
= >4x=1600
=>x=400
:. The CP of the article is ₹400.

Answer 2

Let Cost Price of the article be p.

According to the Question

Loss = 20%

Selling Price = ₹ 320

Formula Loss = CP - SP

Loss = (p - 320).

Using Formula

= $\bf\huge Loss = \frac{Loss}{CP} \times100$

$\bf\huge 20 = \frac{p-320}{p}\times100$

⇒ p = 5p - 1600

⇒ 4p =  1600

⇒ p = 400

The Cost Price of the article is ₹400