Question

On selling an article for Rs 828, a shopkeeper incurs a loss of 8%. Find its cost
price.

Answer 1

The cost price of the article is Rs. 900.

-----------------------------------------------------------------------------

Let's understand a few concepts:

What is the cost price?

The cost price is the original price of items or goods at which it is bought by the retailer.

What is the selling price?

The selling price is the price of items or goods at which it is sold to the customer.

What is profit?

A profit usually occurs in the transaction when the selling price of the item is more than the cost price of the item.

What is loss?

A loss usually occurs in the transaction when the cost price of the item is more than the selling price of the item.

How to calculate the profit/loss percentage?

We will use the following formula to calculate the profit/loss percentage:

$\boxed{\bold{Profit\% = \frac{S.P. - C.P. }{C.P.}\times 100 }}$

$\boxed{\bold{Loss\% = \frac{C.P. - S.P. }{C.P.}\times 100 }}$

---------------------------------------------------------------------------

Let's solve the given problem:

The S.P. of the article = Rs. 828

The rate of loss incurred by the shopkeeper = 8%

Therefore, by using the above formula, we can form an equation as,

$Loss\% = \frac{C.P. - S.P. }{C.P.}\times 100$

$\implies8 = \frac{C.P. \:- \:828 }{C.P.}\times 100$

$\implies 8 \times C.P. = 100\times (C.P. \:- \:828 )$

$\implies 8C.P. = 100C.P. \:- \:82800$

$\implies 100C.P. - 8C.P. =82800$

$\implies 92C.P. =82800$

$\implies \bold{C.P. =Rs. 900}$

Thus, the cost price of the article is Rs. 900.

----------------------------------------------------------------------

Learn more from brainly.in:

brainly.in/question/36717281

brainly.in/question/33920758