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A seller bought a bicycle for $300 and sold it at a loss of 10%. What is the sel

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Question: A seller bought a bicycle for $300 and sold it at a loss of 10%. What is the selling price?

Options:

  1. $270
  2. $280
  3. $290
  4. $300

Correct Answer: $270

Solution: 

Loss = 10% of 300 = 30. Selling Price = Cost Price - Loss = 300 - 30 = 270.

A seller bought a bicycle for $300 and sold it at a loss of 10%. What is the sel

Practice Questions

Q1
A seller bought a bicycle for $300 and sold it at a loss of 10%. What is the selling price?
  1. $270
  2. $280
  3. $290
  4. $300

Questions & Step-by-Step Solutions

A seller bought a bicycle for $300 and sold it at a loss of 10%. What is the selling price?
  • Step 1: Identify the cost price of the bicycle, which is $300.
  • Step 2: Calculate the loss percentage, which is 10%.
  • Step 3: Find the amount of loss by calculating 10% of $300. This is done by multiplying 300 by 0.10, which equals $30.
  • Step 4: Subtract the loss from the cost price to find the selling price. This is done by taking $300 and subtracting $30, which equals $270.
  • Step 5: The selling price of the bicycle is $270.
  • Cost Price and Selling Price – Understanding the relationship between cost price, selling price, and loss or profit.
  • Percentage Calculation – Calculating percentages to determine loss or profit amounts.
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