If a product is sold for $150 after a loss of 10%, what was the cost price?

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Question: If a product is sold for $150 after a loss of 10%, what was the cost price?

Options:

Correct Answer: $135

Solution:

Let Cost Price = x. Selling Price = x - 10% of x = 0.9x. 0.9x = 150. x = 150/0.9 = 166.67.

If a product is sold for $150 after a loss of 10%, what was the cost price?

If a product is sold for $150 after a loss of 10%, what was the cost price?

Step 1: Understand that the Selling Price (SP) is $150 after a loss of 10%.
Step 2: Recognize that a loss of 10% means the Selling Price is 90% of the Cost Price (CP).
Step 3: Write the equation for Selling Price: SP = CP - 10% of CP.
Step 4: Rewrite the equation using variables: SP = x - 0.1x, which simplifies to SP = 0.9x.
Step 5: Substitute the Selling Price into the equation: 0.9x = 150.
Step 6: To find the Cost Price (x), divide both sides of the equation by 0.9: x = 150 / 0.9.
Step 7: Calculate the result: x = 166.67.

Cost Price and Selling Price – Understanding the relationship between cost price, selling price, and profit/loss percentages.
Percentage Calculations – Calculating percentages and their impact on financial figures.