If a calendar costs $120 and is sold at a loss of 15%, what is the selling price

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Question: If a calendar costs $120 and is sold at a loss of 15%, what is the selling price?

Options:

Correct Answer: $102

Solution:

Selling Price = Cost Price - Loss = 120 - (15/100 * 120) = 120 - 18 = $102.

If a calendar costs $120 and is sold at a loss of 15%, what is the selling price?

If a calendar costs $120 and is sold at a loss of 15%, what is the selling price?

Step 1: Identify the cost price of the calendar, which is $120.
Step 2: Determine the loss percentage, which is 15%.
Step 3: Calculate the amount of loss by multiplying the cost price by the loss percentage: 15/100 * 120.
Step 4: Perform the multiplication: 15/100 * 120 = 18.
Step 5: Subtract the loss amount from the cost price to find the selling price: 120 - 18.
Step 6: Perform the subtraction: 120 - 18 = 102.
Step 7: The selling price of the calendar is $102.

Cost Price and Selling Price – Understanding the relationship between cost price, selling price, and loss percentage.
Percentage Calculation – Calculating a percentage of a number to determine loss.