Final answer:
To calculate the cost price with a selling price of N680 and a 15 percent loss, we divide the selling price by 0.85. The cost price is found to be N800.
Step-by-step explanation:
The student asked about finding the cost price if the selling price of an item is N680 and there is a loss of 15 percent. The subject of this question is Mathematics, specifically dealing with percentage calculations within the context of cost, selling price, and loss. To find the cost price, we first need to comprehend that the selling price after sustaining a 15 percent loss signifies that the item was sold for 85 percent of the cost price (100% - 15% loss = 85% of the cost price).
The formula to find the cost price (CP) when we have the selling price (SP) and the percentage loss is CP = SP / (1 - (Loss % / 100)). In this instance, SP is N680, and the Loss % is 15. Applying the formula gives us CP = N680 / (1 - (15 / 100)) = N680 / (1 - 0.15) = N680 / 0.85. This calculation results in the cost price being N800. Hence, the cost price of the item before being sold at a loss was originally N800.