Question

If selling an article for Rs. 517.5 makes a profit of 15%, what is its cost price? At what price should it be sold to get 10% loss? ​

Answer 1

To answer this question, we need to understand the basic concepts of profit and loss in business transactions. Profit is the financial gain obtained when the selling price of an article is more than its cost price. On the other hand, loss occurs when the selling price is less than the cost price. The percentage of profit or loss is calculated based on the cost price.

Given that selling an article for Rs. 517.5 makes a profit of 15%, we can use this information to find out the cost price of the article. The formula to calculate cost price when profit percentage and selling price are known is:

Cost Price = Selling Price / (1 + Profit Percentage/100)

Substituting the given values into this formula, we get:

Cost Price = Rs. 517.5 / (1 + 15/100)

Cost Price = Rs. 517.5 / 1.15

Cost Price = Rs. 450

So, the cost price of the article is Rs. 450.

Next, we need to find out at what price should it be sold to get a 10% loss. The formula to calculate selling price when loss percentage and cost price are known is:

Selling Price = Cost Price * (1 - Loss Percentage/100)

Substituting the given values into this formula, we get:

Selling Price = Rs. 450 * (1 - 10/100)

Selling Price = Rs. 450 * 0.9

Selling Price = Rs. 405

So, to incur a loss of 10%, the article should be sold for Rs. 405.

The main answer to your question is: The cost price of the article is Rs. 450 and it should be sold for Rs. 405 to incur a loss of 10%.

Answer 2

Rs 405

Explanation:

• Find the cost price of the article.

Selling price = Rs. 517.5

Profit %= 15%=0.15

We can use this formula to calculate cost price:

Cost price = Selling price - profit% of cost price

Cost price + profit % of cost price =Selling price

cost price (1+profit %)=Selling price

cost price (1+0.15)=Rs 517.5

cost price=Rs 517.5/1.15

cost price =Rs 450

Find the selling price to get 10% loss.

Cost price = Rs. 450

Loss = 10%=0.10

We can use this formula to calculate new selling price:

Selling price = Cost price - loss% of cost price

= 450-0.10*450

=405

Therefore, the cost price of the article is Rs. 450 and the selling price to get 10% loss is Rs. 405.