If a seller incurs a loss of 10% on selling a book for $45, what was the cost pr

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Question: If a seller incurs a loss of 10% on selling a book for $45, what was the cost price?

Options:

Correct Answer: $50

Solution:

Let the Cost Price be x. Selling Price = Cost Price - Loss = x - 0.1x = 0.9x. So, 0.9x = 45. Therefore, x = 45/0.9 = $50.

If a seller incurs a loss of 10% on selling a book for $45, what was the cost price?

If a seller incurs a loss of 10% on selling a book for $45, what was the cost price?

Step 1: Understand that the seller sold the book for $45.
Step 2: Know that the seller incurred a loss of 10%.
Step 3: Let the cost price of the book be represented as 'x'.
Step 4: Calculate the selling price after the loss. The selling price is equal to the cost price minus the loss.
Step 5: Since the loss is 10%, the selling price can be expressed as: Selling Price = Cost Price - Loss = x - 0.1x.
Step 6: Simplify the equation: Selling Price = 0.9x.
Step 7: Set up the equation with the selling price: 0.9x = 45.
Step 8: Solve for 'x' by dividing both sides of the equation by 0.9: x = 45 / 0.9.
Step 9: Calculate the value: x = 50.
Step 10: Conclude that the cost price of the book is $50.

Cost Price and Selling Price – Understanding the relationship between cost price, selling price, and loss percentage.
Percentage Loss Calculation – Calculating the selling price based on a percentage loss incurred.