Find the cost price of the following:
a)selling price $55, profit 10%
c)selling price $680, loss 15$
15%*
To find the cost price in each case, we can use the formulas:
Cost Price = Selling Price / (1 + Profit Percentage)
Cost Price = Selling Price / (1 - Loss Percentage)
a) Selling price $55, profit 10%:
Cost Price = 55 / (1 + 10/100)
= 55 / (1 + 0.1)
= 55 / 1.1
≈ $50
b) Selling price $680, loss 15%:
Cost Price = 680 / (1 - 15/100)
= 680 / (1 - 0.15)
= 680 / 0.85
≈ $800
Therefore, the cost price in each case is approximately:
a) $50
b) $800
To find the cost price, we can use the formula:
Cost Price = Selling Price - Profit (or) Loss
a) For a selling price of $55 and a profit of 10%:
Step 1: Convert the profit percentage to a decimal by dividing it by 100: 10 / 100 = 0.1
Step 2: Calculate the profit amount by multiplying the selling price by the profit percentage: $55 * 0.1 = $5.50
Step 3: Subtract the profit from the selling price to find the cost price: $55 - $5.50 = $49.50
Therefore, the cost price is $49.50.
c) For a selling price of $680 and a loss of 15%:
Step 1: Convert the loss percentage to a decimal by dividing it by 100: 15 / 100 = 0.15
Step 2: Calculate the loss amount by multiplying the selling price by the loss percentage: $680 * 0.15 = $102
Step 3: Add the loss to the selling price to find the cost price (since it's a loss, we add it instead of subtracting): $680 + $102 = $782
Therefore, the cost price is $782.
(1 + 0.10)x - 55.00
(1 - 0.15)x = 680
Just find x