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Answers
✭A man sold an article for ₹6,270 and lost at 20% by selling it. Find the cost price of that item.
✭Cost price of the item =₹7,838
✭Selling price of that item and loss on that item is ₹6,270 and ₹20 respectively.
✭Cost price of the item
Step by step explanation:-
Cost price of the item =
=
=
= ₹7,838
✭Profit or Gain = Selling price – Cost Price
✭ Loss = Cost Price – Selling Price
✭Profit percentage = (Profit /Cost Price) x 100
✭ Loss percentage = (Loss / Cost price) x 100
✭ This is in case of loss:-
✭ Cost Price =
✭ This is in case of profit:-
✭ Cost Price =
✭This is in case of loss:-
✭Selling Price = {(100 – Loss %)/100} x CP}
✭This is in case of profit:-
✭Selling Price = {(100 + Gain %)/100} x CP}
- ✭ The amount earned by selling the product is called selling price.
- ✭ The amount given to the buyer by the owner of the product is called cost price.
- ✭ The amount gained by selling the product is called profit.
- ✭ The amount losed by selling the product is called loss.
Answer:
SP of the fridge=Rs 6251
Let the CP be x
Loss=1/20 of CP
LOSS=CP-SP
1/20x=x-6251
1/20x-x=-6251
-19x/20=-6251
On solving x =6580
CP= Rs 6580