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A product is marked at $600 and sold at a loss of 10%. What is the selling price

Practice Questions

Q1
A product is marked at $600 and sold at a loss of 10%. What is the selling price?
  1. $540
  2. $550
  3. $560
  4. $570

Questions & Step-by-Step Solutions

A product is marked at $600 and sold at a loss of 10%. What is the selling price?
  • Step 1: Identify the marked price of the product, which is $600.
  • Step 2: Calculate the loss percentage, which is 10%.
  • Step 3: Find the amount of loss by calculating 10% of the marked price: 10% of 600 = 60.
  • Step 4: Subtract the loss amount from the marked price to find the selling price: 600 - 60 = 540.
  • Step 5: The selling price of the product is $540.
  • Percentage Calculation – Understanding how to calculate a percentage of a given amount, in this case, 10% of the marked price.
  • Loss Calculation – Determining the selling price after applying a loss percentage to the marked price.
  • Basic Arithmetic – Performing basic subtraction to find the final selling price.
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