Question

Question 72

In questions 60 to 79, state whether the statements are True or False.
By selling a book for ₹ 50, a shopkeeper suffers a loss of 10 %. The cost price of the book is ₹ 60.

Answer 1

False

Given, SP = ₹ 50 and loss per cent = 10 %
We know that,
$Loss\%=\frac{Loss}{CP}\times 100\%\Rightarrow Loss\%=\frac{CP-SP}{CP}\times 100$ [$\because$ Loss = CP - SP ]
$\Rightarrow 10=\frac{(CP-50)}{CP}\times 100\Rightarrow 10CP=100CP-5000\Rightarrow 90CP=5000\Rightarrow CP=\frac{5000}{90}$
$\therefore$ CP = ₹ 55.55
Hence, the cost price of the book is ₹ 55.55.