Question

An item was sold for $Rs570$ at a loss of $5\%$, what was its cost price ?

Answer 1

S.P. = $Rs570$

Loss % = $5\%$

Let the C.P. be $xRs$

Then , $$\begin{gathered} Loss=\frac{Loss\%\times C.P.}{100} \\ =\frac{5\times x}{100}=\frac{x}{20} \end{gathered}$$

Also, $$\begin{gathered} S.P.=C.P.-Loss \\ 570=x-\frac{x}{20} \\ 570=\frac{19x}{20} \\ x=\frac{570\times 20}{19} \\ x=600Rs \end{gathered}$$

Therefore cost price is $Rs600$.