If a person incurs a loss of 15% on selling a book for $85, what was the cost pr

₹0.0

Question: If a person incurs a loss of 15% on selling a book for $85, what was the cost price?

Options:

Correct Answer: $100

Solution:

Let Cost Price = x. Selling Price = x - 15% of x = 0.85x. 0.85x = 85. x = 85/0.85 = 100.

If a person incurs a loss of 15% on selling a book for $85, what was the cost price?

If a person incurs a loss of 15% on selling a book for $85, what was the cost price?

Step 1: Understand that the person sold the book for $85 and incurred a loss of 15%.
Step 2: Let the cost price of the book be represented as 'x'.
Step 3: Since there is a 15% loss, the selling price is 85% of the cost price. This can be written as: Selling Price = Cost Price - 15% of Cost Price.
Step 4: This means Selling Price = x - 0.15x = 0.85x.
Step 5: We know the selling price is $85, so we can set up the equation: 0.85x = 85.
Step 6: To find 'x', divide both sides of the equation by 0.85: x = 85 / 0.85.
Step 7: Calculate the value: x = 100.
Step 8: Therefore, the cost price of the book is $100.

Percentage Loss – Understanding how to calculate the cost price based on the selling price and the percentage loss incurred.
Algebraic Manipulation – Using algebra to express relationships between cost price, selling price, and percentage loss.