Question

By selling an article for * 2,720 a shopkeeper suffered a loss of 15%. Find the cost price of the article.​

Answer 1

Cost Price = ₹3200

Step-by-step explanation:

GIVEN

Selling Price = ₹2720

Loss Percent = 15%

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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 = ( 2720 × 100 ) / ( 100 - 15 )

Cost Price = 272000 / 85

Cost Price = 3200

Cost Price = ₹3200

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IMPORTANT

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

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

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

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

Answer 2

Step-by-step explanation:

Selling Price = 2720

Loss percent = 15%

Cost Price = Selling × 100/100-15

Cost price = 2720×100/100-15

Cost price = 272000/100-15

Cost price = 272000/85. ( 100-15 = 85 )

Cost price = Rs 3200. ( Divided 85 by 272000)

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