Question

An item is sold at the rate of Rs 540 with a loss of 5%. Fine the Cost Price of the item
Please write in detail

Answer 1

If the selling price of the item is Rs. 540 and the loss is 5% assume the cost price to be X.

selling price = cost price - loss
540 = X - ( X × 5)/ 100
540 = X ( 1 - 0.05)
X = 540/0.95
X = Rs.568.41