If a person sells a book for $30 at a loss of 25%, what was the cost price?

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Question: If a person sells a book for $30 at a loss of 25%, what was the cost price?

Options:

Correct Answer: $40

Solution:

Let Cost Price = x. Selling Price = x - 25% of x = 0.75x. 0.75x = 30. x = 30/0.75 = 40.

If a person sells a book for $30 at a loss of 25%, what was the cost price?

If a person sells a book for $30 at a loss of 25%, what was the cost price?

Step 1: Understand that the selling price of the book is $30.
Step 2: Know that selling at a loss of 25% means the selling price is 75% of the cost price.
Step 3: Let the cost price be represented as 'x'.
Step 4: Write the equation for selling price: Selling Price = Cost Price - Loss = x - 0.25x = 0.75x.
Step 5: Set up the equation: 0.75x = 30.
Step 6: To find 'x', divide both sides of the equation by 0.75: x = 30 / 0.75.
Step 7: Calculate the value: x = 40.
Step 8: Conclude that the cost price of the book is $40.

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