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An item was sold for Rupees 540 at a loss of 5%.
what was its cost price?
what was its cost price?
Most Upvoted Answer
An item was sold for Rupees 540 at a loss of 5%. what was its cost pri...
Understanding the Problem
To determine the cost price (CP) of an item sold at a loss, we need to understand how loss percentage is calculated. When an item is sold at a loss, it is sold for less than its cost price.
Given Information
- Selling Price (SP) = Rupees 540
- Loss Percentage = 5%
Calculating Cost Price
1. Loss Percentage:
Loss is calculated on the cost price. A loss of 5% means that the selling price is 95% of the cost price.
2. Formula:
We can express this relationship mathematically:
SP = CP - (Loss)
Here, Loss = 5% of CP
This can also be expressed as:
SP = CP * (1 - Loss Percentage)
SP = CP * (1 - 0.05)
SP = CP * 0.95
3. Rearranging the Formula:
To find the cost price (CP), we rearrange the formula:
CP = SP / 0.95
4. Substituting Values:
Now, substituting the given selling price into the formula:
CP = 540 / 0.95
Calculating the Exact Value
- CP = 540 / 0.95
- CP = 568.42 (approximately)
Conclusion
The cost price of the item is approximately Rupees 568.42. This means that the seller originally bought the item for about this amount before selling it at a loss.
To determine the cost price (CP) of an item sold at a loss, we need to understand how loss percentage is calculated. When an item is sold at a loss, it is sold for less than its cost price.
Given Information
- Selling Price (SP) = Rupees 540
- Loss Percentage = 5%
Calculating Cost Price
1. Loss Percentage:
Loss is calculated on the cost price. A loss of 5% means that the selling price is 95% of the cost price.
2. Formula:
We can express this relationship mathematically:
SP = CP - (Loss)
Here, Loss = 5% of CP
This can also be expressed as:
SP = CP * (1 - Loss Percentage)
SP = CP * (1 - 0.05)
SP = CP * 0.95
3. Rearranging the Formula:
To find the cost price (CP), we rearrange the formula:
CP = SP / 0.95
4. Substituting Values:
Now, substituting the given selling price into the formula:
CP = 540 / 0.95
Calculating the Exact Value
- CP = 540 / 0.95
- CP = 568.42 (approximately)
Conclusion
The cost price of the item is approximately Rupees 568.42. This means that the seller originally bought the item for about this amount before selling it at a loss.
Community Answer
An item was sold for Rupees 540 at a loss of 5%. what was its cost pri...
Understanding the Problem
To determine the cost price of an item sold at a loss, we need to understand the relationship between selling price, cost price, and loss percentage.
Given Information
- Selling Price (SP) = Rupees 540
- Loss Percentage = 5%
Formula for Loss
When an item is sold at a loss, the formula to find the cost price (CP) is:
CP = SP / (1 - Loss Percentage)
Calculating the Loss Percentage
- Convert the loss percentage into decimal:
- Loss Percentage = 5% = 5/100 = 0.05
Substituting Values
Now, we can substitute the values into the formula:
- CP = 540 / (1 - 0.05)
Calculating the Denominator
- 1 - 0.05 = 0.95
Final Calculation
Now, we can calculate the cost price:
- CP = 540 / 0.95
Calculating this gives:
- CP = 568.42 (approximately)
Conclusion
The cost price of the item is approximately Rupees 568.42. This means that the seller incurred a loss by selling it for Rupees 540, which is lower than the cost price. Understanding these calculations helps in making better pricing decisions in business.
To determine the cost price of an item sold at a loss, we need to understand the relationship between selling price, cost price, and loss percentage.
Given Information
- Selling Price (SP) = Rupees 540
- Loss Percentage = 5%
Formula for Loss
When an item is sold at a loss, the formula to find the cost price (CP) is:
CP = SP / (1 - Loss Percentage)
Calculating the Loss Percentage
- Convert the loss percentage into decimal:
- Loss Percentage = 5% = 5/100 = 0.05
Substituting Values
Now, we can substitute the values into the formula:
- CP = 540 / (1 - 0.05)
Calculating the Denominator
- 1 - 0.05 = 0.95
Final Calculation
Now, we can calculate the cost price:
- CP = 540 / 0.95
Calculating this gives:
- CP = 568.42 (approximately)
Conclusion
The cost price of the item is approximately Rupees 568.42. This means that the seller incurred a loss by selling it for Rupees 540, which is lower than the cost price. Understanding these calculations helps in making better pricing decisions in business.
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An item was sold for Rupees 540 at a loss of 5%. what was its cost price?
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An item was sold for Rupees 540 at a loss of 5%. what was its cost price? 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 Rupees 540 at a loss of 5%. what was its cost price? 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 Rupees 540 at a loss of 5%. what was its cost price?.
An item was sold for Rupees 540 at a loss of 5%. what was its cost price? 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 Rupees 540 at a loss of 5%. what was its cost price? 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 Rupees 540 at a loss of 5%. what was its cost price?.
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