Question

the dinner set was sold for Rs.16000 at a loss of 20%. Ehat was its cost price

Answer 1

Answer:

the cost price of the article is rs.20000.

Answer 2

$\bf \underline{ \underline{\maltese\:Given} }$

$\sf \Rrightarrow Selling \: price \: of \: the \: dinner \: set = Rs. \: 16000$

$\sf \Rrightarrow Loss \: \% = 20 \: \%$

$\bf \underline{ \underline{\maltese \: To \: find } }$

$\sf \Rrightarrow Cost \: price \: of \: the \: dinner \: set = \: ?$

$\bf \underline{ \underline{\maltese \: Solution } }$

$\sf \implies C.P = \dfrac{100}{(100 - Loss \: \%) } \: \times \: S.P$

$\sf Now, \: substitute \: the \: values,$

$\sf \implies C.P = \dfrac{100}{(100 - 20) } \: \times \: 16000$

$\sf \implies C.P = \dfrac{100}{ \cancel{80 }} \: \times \: \cancel{16000}$

$\sf \implies C.P = 100 \times 200$

$\sf \implies C.P = Rs. \: 20000$

$\underline{ \boxed{ \bf \red{Thus, \: the \: Cost \: price \: of \: the \: dinner \: set = Rs. \: 20000}}}$

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Cost price : The cost of an article is the price at which article is purchased. It is abbreviated as C.P

Selling price : The selling price of an article is the price at which article is sold. It is abbreviated as S.P

Profit or Gain : If selling price of an article is more than cost price, then there is gain or profit in transaction.

$\sf \implies Profit = Selling \:price - Cost\: price$

Loss : When the selling price is less than cost price, then there is loss in the transaction.

$\sf \implies Loss = Cost \:price -Selling \:price$

Profit or Loss percent : Profit or Loss percent is relation between Profit/Loss and cost price of an article. Therefore, profit and loss percent is always calculated on cost price.