Class 7 Exam  >  Class 7 Questions  >  An item was sold for rs540 at a loss 5%. What... Start Learning for Free
An item was sold for rs540 at a loss 5%. What was its cost price?
Most Upvoted Answer
An item was sold for rs540 at a loss 5%. What was its cost price?
Let cp=x

loss=5%of x=(5/100)× =1/20x

x-1/20x=540(cp-loss=sp)

19/20x=540

x=(540×19)/20

x=513=CP
Community Answer
An item was sold for rs540 at a loss 5%. What was its cost price?


Calculating Cost Price with 5% Loss

- Let's assume the cost price of the item is CP.
- The item was sold for Rs. 540 at a loss of 5%.

Calculating the Selling Price

- Selling Price (SP) = CP - Loss
- SP = CP - 5% of CP
- SP = CP - 0.05CP
- SP = 0.95CP
- Given that SP = Rs. 540

Calculating Cost Price

- 0.95CP = 540
- CP = 540 / 0.95
- CP = Rs. 568.42

Therefore, the cost price of the item was Rs. 568.42.
Attention Class 7 Students!
To make sure you are not studying endlessly, EduRev has designed Class 7 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 7.
Explore Courses for Class 7 exam

Top Courses for Class 7

An item was sold for rs540 at a loss 5%. What was its cost price?
Question Description
An item was sold for rs540 at a loss 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 rs540 at a loss 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 rs540 at a loss 5%. What was its cost price?.
Solutions for An item was sold for rs540 at a loss 5%. What was its cost price? in English & in Hindi are available as part of our courses for Class 7. Download more important topics, notes, lectures and mock test series for Class 7 Exam by signing up for free.
Here you can find the meaning of An item was sold for rs540 at a loss 5%. What was its cost price? defined & explained in the simplest way possible. Besides giving the explanation of An item was sold for rs540 at a loss 5%. What was its cost price?, a detailed solution for An item was sold for rs540 at a loss 5%. What was its cost price? has been provided alongside types of An item was sold for rs540 at a loss 5%. What was its cost price? theory, EduRev gives you an ample number of questions to practice An item was sold for rs540 at a loss 5%. What was its cost price? tests, examples and also practice Class 7 tests.
Explore Courses for Class 7 exam

Top Courses for Class 7

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev