Question

A farmer sells his product at a loss of $8\%$.If his S.P was Rs.$27,600$.What was his actual loss?What was his Cost price?

Answer 1

Let the C.P of the product be Rs.$100$

Loss$=8\%=8\%$ of C.P

$=\frac{8}{100}\times 100=$Rs.$8$

S.P$=$C.P$-$Loss$=$Rs.$100-$Rs.$8=$Rs.$92$

Thus if S.P is Rs.$92$ then C.P is Rs.$100$

If S.P is Rs.$27600$ then C.P$=\frac{100}{92}\times 27600=$Rs.$30,000$

Hence Actual C.P$=$Rs.$30,000$

Actual loss$=C.P-S.P$

$=30,000-27,600=$Rs.$2400$