Question

$\huge\blue{\boxed{\blue{ \bold{\fcolorbox{red}{black}{\green{QUESTION}}}}}}$

On selling an article for Rs. 651, there is a loss of 7%. The cost price of that article is​

Answer 1

★ Concept :-

Here the concept of Profit and Loss has been used. We see that we are given the selling price and loss percentage of the article. Also we need to find the Cost Price of the article. We know the formula to find such using the relationship. So firstly we shall apply values in the formula and then find the answer.

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★ Formula Used :-

$\boxed{\sf{\pink{S.P.\;=\;\bf{\bigg(\dfrac{100\:-\:Loss\%}{100}\bigg)\:\times\:C.P.}}}}$

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★ Solution :-

Given,

» Selling Price of article = S.P. = Rs. 651

» Loss % of article = 7 %

• Let the Cost Price of the article be C.P.

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~ For the C.P. of the article ::

We know that,

$\sf{\rightarrow\;\;S.P.\;=\;\bf{\bigg(\dfrac{100\:-\:Loss\%}{100}\bigg)\:\times\:C.P.}}$

By transposing the required term to opposite side, we get

$\sf{\rightarrow\;\;\dfrac{S.P.}{C.P.}\;=\;\bf{\bigg(\dfrac{100\:-\:Loss\%}{100}\bigg)}}$

$\sf{\rightarrow\;\;C.P.\;=\;\bf{\bigg(\dfrac{100}{100\:-\:Loss\%}\bigg)\:\times\:S.P.}}$

By applying values, we get

$\sf{\rightarrow\;\;C.P.\;=\;\bf{\bigg(\dfrac{100}{100\:-\:7}\bigg)\:\times\:651}}$

$\sf{\rightarrow\;\;C.P.\;=\;\bf{\bigg(\dfrac{100}{93}\bigg)\:\times\:651}}$

$\sf{\rightarrow\;\;C.P.\;=\;\bf{\dfrac{100}{93}\:\times\:651}}$

$\sf{\rightarrow\;\;C.P.\;=\;\bf{100\:\times\:7}}$

$\bf{\rightarrow\;\;C.P.\;=\;\bf{\red{Rs.\;\:700}}}$

This is the required answer.

$\;\underline{\boxed{\tt{Required\;\:Cost\;\:Price\;=\;\bf{\purple{Rs.\;\:700}}}}}$

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★ More to know :-

$\tt{\leadsto\;\;S.P.\;=\;\bf{\bigg(\dfrac{100\:+\:Loss\%}{100}\bigg)\:\times\:C.P.}}$

$\tt{\leadsto\;\;C.P.\;=\;\bf{\bigg(\dfrac{100}{100\:+\:Loss\%}\bigg)\:\times\:S.P.}}$

$\tt{\leadsto\;\;Gain\%\;=\;\dfrac{Gain\:\times\:100}{C.P.}}$

$\tt{\leadsto\;\;Loss\%\;=\;\dfrac{Loss\:\times\:100}{C.P.}}$

Answer 2

₹ 700

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