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If a seller incurs a loss of 10% on selling a bicycle for $450, what was the cos
If a seller incurs a loss of 10% on selling a bicycle for $450, what was the cost price?
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Practice Questions
1 question
Q1
If a seller incurs a loss of 10% on selling a bicycle for $450, what was the cost price?
$500
$450
$400
$350
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Let the cost price be x. Then, 450 = x - 10% of x => 450 = x - 0.1x => 450 = 0.9x => x = 500.
Questions & Step-by-step Solutions
1 item
Q
Q: If a seller incurs a loss of 10% on selling a bicycle for $450, what was the cost price?
Solution:
Let the cost price be x. Then, 450 = x - 10% of x => 450 = x - 0.1x => 450 = 0.9x => x = 500.
Steps: 8
Show Steps
Step 1: Understand that the seller sold the bicycle for $450 and incurred a loss of 10%.
Step 2: Let the cost price of the bicycle be represented by 'x'.
Step 3: Since there is a 10% loss, the selling price is 90% of the cost price. This can be written as: Selling Price = Cost Price - 10% of Cost Price.
Step 4: In mathematical terms, this is: 450 = x - 0.1x.
Step 5: Simplify the equation: 450 = 0.9x.
Step 6: To find 'x', divide both sides of the equation by 0.9: x = 450 / 0.9.
Step 7: Calculate the value: x = 500.
Step 8: Therefore, the cost price of the bicycle is $500.
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