By selling an article for * 2,720 a shopkeeper suffered a loss of 15%. Find the cost price of the article.
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By selling an article for * 2,720 a shopkeeper suffered a loss of 15%. Find the cost price of the article.
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Verified answer
Cost Price = ₹3200
Step-by-step explanation:
GIVEN
Selling Price = ₹2720
Loss Percent = 15%
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TO FIND
Cost Price
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We know that,
Cost Price = ( Selling Price × 100 ) / ( 100 - Loss Percent )
Cost Price = ( 2720 × 100 ) / ( 100 - 15 )
Cost Price = 272000 / 85
Cost Price = 3200
Cost Price = ₹3200
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IMPORTANT
Cost Price = ( Selling Price × 100 ) / ( 100 + Profit Percent )
Cost Price = ( Selling Price × 100 ) / ( 100 - Loss Percent )
Selling Price = ( 100 + Profit Percent ) × Cost Price / 100
Selling Price = ( 100 - Loss Percent ) × Cost Price / 100
Step-by-step explanation:
Selling Price = 2720
Loss percent = 15%
Cost Price = Selling × 100/100-15
Cost price = 2720×100/100-15
Cost price = 272000/100-15
Cost price = 272000/85. ( 100-15 = 85 )
Cost price = Rs 3200. ( Divided 85 by 272000)