Question

if the selling price of something is $506.85 with a loss of 7%, what is the cost price?

Answer 1

Answer:

cost price is $545.

Step-by-step explanation:

consider the cost price to be x.

there's a loss of 7% on cost price, which means,

x - 7% of x = 506.85

=> x - 0.07x = 506.85

=> 0.93x = 506.85

=> x = 506.85 ÷ 0.93

=> x = 545.

let's reverse check to confirm:

545 - 7% = 506.85.

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