Question

Sunatha sells a sofa for 7000 making a loss of 10%. Find CP.

Answer 1

SP = 7000 Rs

so ATQ

CP - 10%CP = 7000
0.9CP = 7000
CP = 7777.777

Answer 2

Answer:

So cost price is , CP = 7777.78

Step-by-step explanation:

Given:

Selling Price = 7000

Loss % = 10 %

To find :

Cost Price = ?

Solution:

We know that

Selling Price = Cost Price - loss

Cost Price = Selling Price + loss

Now first we have to find the value of loss

AS loss is always found on the Cost price but here it an unknown

So Formula for finding Cost price is

CP = [100 / (100 – Loss%)] * SP

Which means that If an article is sold at a loss of 10%, then SP = 90% of CP.

As all the values are known so plugging in

CP =  $[\frac{100}{100-10} ]$* 7000

CP = $[\frac{100}{90}]$* 7000

CP = $[\frac{100*7000}{90}]$

CP = $[\frac{10*7000}{9}]$

CP = $[\frac{70000}{9}]$

CP = $[\frac{70000}{9}]$

CP = 7777.78

This is the cost price of sofa