Question

an item was sold for rupees 540 at a loss of 5%. what was its cost price?
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Answer 1

S.P= ₹ 540, loss%=5%

Let the Cost price = C.P

Loss% =( loss/C.P) × 100

Loss% =( (CP- SP)/CP ) × 100

5 =( (CP - 540)/CP ) × 100

5/100 = ( (CP - 540)/CP ) 

1/20 = ( (CP - 540)/CP ) 

CP = 20 (CP - 540)

20 = 20CP - 10800

20CP - CP = 10800

19CP = 10800

CP = 10800/19

CP =₹ 568.42

Hence, the cost price of an item = ₹ 568.42

Hope it helps you...✌✌