Question

On selling a table for $987, Reece loses 6%. Using the profit and loss formulas, find out the price at which he purchased it.

Answer 1

The ans is —

Selling price(S.P) = $987
Loss % = 6
Cost price(C.P) = ?

Loss = Loss% * S.P
= 6/100 * 987
= 6 * 9.87
= $ 59.22

C.P = S.P + Loss
= 987 + 59.22
= $ 1046.22

The price at which he purchased the table was $1046.22