Question

A man made a loss of 15% by selling an article for 595 Naira. Find the cost price of the article.

A) 700 Naira
B) 550 Naira
C) 700 Naira
D) 500 Naira

Answer 1

To find the cost price of the article, we need to first determine the selling price. Since the man made a loss of 15%, his selling price is 85% of the cost price.

Step-by-step explanation:

To find the cost price of the article, we need to first determine the selling price. Since the man made a loss of 15%, his selling price is 85% of the cost price. Let's denote the cost price as 'x'.

So, 85% of x is equal to 595 Naira. We can write this as:

0.85x = 595

To find 'x', we can divide both sides of the equation by 0.85:

x = 595 / 0.85

Using a calculator, we find that the cost price of the article is approximately 700 Naira. Therefore, option C) 700 Naira is the correct answer.