If a shopkeeper sells an item at a loss of 10% and the selling price is $90, what was the cost price?
Practice Questions
1 question
Q1
If a shopkeeper sells an item at a loss of 10% and the selling price is $90, what was the cost price?
$100
$110
$80
$90
Let the cost price be x. Selling Price = Cost Price - (10% of Cost Price) = x - 0.10x = 0.90x. Thus, 0.90x = $90, so x = $90 / 0.90 = $100.
Questions & Step-by-step Solutions
1 item
Q
Q: If a shopkeeper sells an item at a loss of 10% and the selling price is $90, what was the cost price?
Solution: Let the cost price be x. Selling Price = Cost Price - (10% of Cost Price) = x - 0.10x = 0.90x. Thus, 0.90x = $90, so x = $90 / 0.90 = $100.
Steps: 7
Step 1: Understand that the shopkeeper sells an item at a loss of 10%. This means the selling price is less than the cost price.
Step 2: Let the cost price 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: Rewrite the equation: Selling Price = x - 0.10x = 0.90x.
Step 5: We know the selling price is $90, so we can set up the equation: 0.90x = $90.
Step 6: To find 'x', divide both sides of the equation by 0.90: x = $90 / 0.90.
Step 7: Calculate the value: x = $100. This means the cost price of the item was $100.
