Final answer:
The spare parts dealer sold the goods for $3,880 after experiencing a 3% loss on the original cost of $4,000.
Step-by-step explanation:
The spare parts dealer experienced a loss of 3% on the original cost of the goods which was $4,000. To calculate the selling price after the loss, we first determine the loss amount by multiplying the original cost by the percentage loss. Therefore, the loss amount equals $4,000 × 0.03, which is $120. To find the final selling price, we subtract the loss from the original cost: $4,000 - $120 = $3,880. This is the amount for which the dealer sold the goods.
First, we need to find out how much the dealer lost. 3% of $4,000 is calculated as: $4,000 imes 0.03 = $120.
To find out the selling price, we subtract the loss from the cost price: $4,000 - $120 = $3,880.
The dealer sold the goods for $3,880.