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An item was sold for Rs 540 at loss of 5% find CP?
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An item was sold for Rs 540 at loss of 5% find CP?
Understanding the Problem
To find the Cost Price (CP) of an item sold at a loss, we need to use the relationship between Selling Price (SP), Cost Price (CP), and Loss Percentage.
Given Data
- Selling Price (SP) = Rs 540
- Loss Percentage = 5%
Formulas to Remember
- Loss = CP × (Loss Percentage / 100)
- Selling Price (SP) = Cost Price (CP) - Loss
Step-by-Step Calculation
1. Calculate the Loss:
- Since the loss is 5%, we can express this as:
Loss = CP × (5 / 100) = 0.05 × CP
2. Substitute Loss into Selling Price Formula:
- Using the Selling Price formula:
- SP = CP - Loss
- Substituting the values, we get:
- 540 = CP - (0.05 × CP)
3. Combine Like Terms:
- 540 = CP - 0.05CP
- This simplifies to:
- 540 = 0.95CP
4. Solve for CP:
- To find CP, divide both sides by 0.95:
- CP = 540 / 0.95
- CP ≈ Rs 568.42
Conclusion
- The Cost Price (CP) of the item is approximately Rs 568.42. Thus, to avoid loss, it is essential to price items carefully based on costs.
To find the Cost Price (CP) of an item sold at a loss, we need to use the relationship between Selling Price (SP), Cost Price (CP), and Loss Percentage.
Given Data
- Selling Price (SP) = Rs 540
- Loss Percentage = 5%
Formulas to Remember
- Loss = CP × (Loss Percentage / 100)
- Selling Price (SP) = Cost Price (CP) - Loss
Step-by-Step Calculation
1. Calculate the Loss:
- Since the loss is 5%, we can express this as:
Loss = CP × (5 / 100) = 0.05 × CP
2. Substitute Loss into Selling Price Formula:
- Using the Selling Price formula:
- SP = CP - Loss
- Substituting the values, we get:
- 540 = CP - (0.05 × CP)
3. Combine Like Terms:
- 540 = CP - 0.05CP
- This simplifies to:
- 540 = 0.95CP
4. Solve for CP:
- To find CP, divide both sides by 0.95:
- CP = 540 / 0.95
- CP ≈ Rs 568.42
Conclusion
- The Cost Price (CP) of the item is approximately Rs 568.42. Thus, to avoid loss, it is essential to price items carefully based on costs.
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An item was sold for Rs 540 at loss of 5% find CP?
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An item was sold for Rs 540 at loss of 5% find CP? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about An item was sold for Rs 540 at loss of 5% find CP? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An item was sold for Rs 540 at loss of 5% find CP?.
An item was sold for Rs 540 at loss of 5% find CP? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about An item was sold for Rs 540 at loss of 5% find CP? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An item was sold for Rs 540 at loss of 5% find CP?.
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