Question

The cost of an article is $₹5400$. If the article was sold at $10\%$ loss, calculate the selling price of that article.
[2 Marks]

Answer 1

Given,
Cost Price (C.P.) $=₹5400$
Loss $=10\%$

Let us suppose loss is $A$.
Let us find the ratios of loss to cost price, express those ratios in two forms, obtain equations and solve them.

$\frac{A}{5400}=\frac{10}{100}$

$\frac{A}{5400}\times 100=\frac{10}{100}\times 100$

$A=540$

[1 Mark]

So, Selling Price (S.P.)
$=$ C.P. - Loss
$=₹5400-₹540$
$=₹4860$

Hence, the selling price of the article is $₹4860$.
[1 Mark]