Question

If a book is sold for $250 at 15% loss on cost, what is cost price?

Answer 1

Answer:

$217

Step-by-step explanation:

Selling price = $250

Profit = 15 %

Profit (%) = (SP-CP)/CP x 100

15 = (250-CP)/CP x 100

115CP = 25000

CP = $217

Answer 2

Answer:

CP = $294.11

Step-by-step explanation:

Let CP of book be x then

Since we know that there is 15% loss therefore

x - 15% of x = $250

$x - (\frac{15}{100}x) = \ 250\\\\x - (\frac{15x}{100}) = \ 250\\\\\frac{100x - 15x}{100} = \ 250\\\\85x = \ 250*100\\x = \frac{25000}{85}\\\\x = \frac{5000}{17} = \ 294.11$

Therefore

$\ 294.11$