Question

What is the cost of a bag of rice containing 50 kg, if by selling it at ₹ 5.40 kg, there is a loss of 10% ?

Answer 1

Answer:

Total quantity of rice in the Bag = 50 kg

Price at which it is Sold Per kg = ₹ 5.40

Sales Amount = Total quantity Sold ×unit price

= 50 × ₹ 5.40

=₹ 270 = selling Price

Given that there is a loss of ' 10%'

We kNow that

Cost price - loss = selling Price

Loss = Cost price × loss percentage

Let the cost price be 'x'

loss = x × 10% = 0.1x

cost Price - loss = selling Price

x - 0.1x = 270

0.9x = 270

x = 270/0.9

x = 300 is the cost price