Question

A man sold a fan for Rs. 400. Find the cost price if he incurred a loss of 15%.

Answer 1

Cost price of the fan is
`\text {Rs. 470.59}`.

Explanation:

Given: A man sold a fan for
`\text{Rs.}\:400`. He incurred a loss of
`15\%`.

To find: The cost price of the fan

Solution:

We have,

Selling price, S.P., of the fan
`= \text{Rs.} 400`

Loss
`=15\%`

We know that
`\text {Loss\%}=\frac{\text{C.P.-S.P.}}{\text{C.P.}}*100\%`

Now let the C.P. of the fan be
`\text{Rs.} \:x`

So,
`15=((x-400)/(x))* 100`

`\implies 15x=100x-40000`

`\implies 100x-15x=40000`

`\implies 85x=40000`

`\implies x=(40000)/(85)`

`\implies x= 470.59`

Hence, the cost price of the fan is
`\text {Rs. 470.59}`.