The cost price of a chair is Rs 3300.IF it is sold at a loss of 10% th...
The cost price of a chair is Rs 3300.IF it is sold at a loss of 10% th...
The Problem:
The cost price of a chair is Rs 3300. If it is sold at a loss of 10%, what will be the selling price?
Solution:
To find the selling price, we need to understand the concept of cost price, selling price, and loss.
Cost Price (CP): The amount spent to purchase the chair, in this case, is Rs 3300.
Selling Price (SP): The amount at which the chair is sold.
Loss: When the selling price is less than the cost price, we incur a loss.
Now, let's calculate the selling price using the given information.
Step 1: Calculate the loss amount.
- Loss = 10% of the cost price
- Loss = (10/100) * Rs 3300
- Loss = Rs 330
Step 2: Calculate the selling price.
- Selling Price = Cost Price - Loss
- Selling Price = Rs 3300 - Rs 330
- Selling Price = Rs 2970
Therefore, the selling price of the chair, when sold at a loss of 10%, is Rs 2970.
Summary:
- Cost Price (CP) of the chair: Rs 3300
- Loss: 10% of CP = Rs 330
- Selling Price (SP) = CP - Loss
- SP = Rs 3300 - Rs 330
- SP = Rs 2970
Hence, the chair should be sold at a selling price of Rs 2970 to incur a loss of 10%.
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