We will learn how to calculate loss and selling price of an article. We know, S.P. is the price at which an article is sold and the seller suffers a loss when the S.P. is less than the C.P.
1. James purchases an article for $450 and sold it at 20% loss. Find the loss and selling price of the article.
Given, C.P. of an article = $450 and loss% = 20%
Therefore, loss = loss% of C.P.
= 20% × $450
= (20/100) × $450
And, S.P. = C.P. – loss
= $450 - $90
Therefore, loss is $90 and selling price is $360.
2. A dealer losses $200 when he sells an article at a loss of 10%. Find the selling price (S.P.) of the article.
Let the cost price (C.P.) be $ 100.
Therefore selling price (S.P.) = cost price (C.P.) - loss
= $100 - $10
If the loss is $10, then the S.P. is $90.
If the loss is $1, then the S.P. is $90/10.
If the loss is $200, then the S.P. is $ (90/10) × 200
= $(90 × 200)/10
Hence, the selling price (S.P.) of the article is $1800.
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