A man sells an article for $150 at a loss of 10%. What was the cost price?

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Question: A man sells an article for $150 at a loss of 10%. What was the cost price?

Options:

Correct Answer: $165

Solution:

Let Cost Price = x. Selling Price = x - 10% of x = 0.9x. 0.9x = 150. x = 150/0.9 = 165.

A man sells an article for $150 at a loss of 10%. What was the cost price?

A man sells an article for $150 at a loss of 10%. What was the cost price?

Step 1: Understand that the selling price is $150 and the man sells it at a loss of 10%.
Step 2: Let the cost price be represented as 'x'.
Step 3: Since he sells at a loss of 10%, the selling price is 90% of the cost price. This can be written as: Selling Price = Cost Price - 10% of Cost Price.
Step 4: This can be simplified to: Selling Price = 0.9 * Cost Price, or 0.9x.
Step 5: Set up the equation: 0.9x = 150.
Step 6: To find 'x', divide both sides of the equation by 0.9: x = 150 / 0.9.
Step 7: Calculate the value: x = 165.

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