Question

The selling price of an article is N8,000.00. If it is sold at a loss of 20%. What was the cost price?

Answer 1

sp= 8000.00.

loss percent= 20%

loss amount = 20% of sp

= 20÷100 × 8000

= 1600

now,

costprice = sp + loss amount

= 8000 + 1600

= 9600