If a seller incurs a loss of 10% on selling a book for $90, what was the cost pr

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Question: If a seller incurs a loss of 10% on selling a book for $90, what was the cost price?

Options:

Correct Answer: $100

Solution:

Let the cost price be x. Selling Price = Cost Price - Loss = x - 0.10x = 0.90x. So, 0.90x = 90. Therefore, x = 90/0.90 = 100.

If a seller incurs a loss of 10% on selling a book for $90, what was the cost price?

If a seller incurs a loss of 10% on selling a book for $90, what was the cost price?

Step 1: Understand that the seller sold the book for $90.
Step 2: Know that the seller incurred a loss of 10%.
Step 3: Define the cost price of the book as 'x'.
Step 4: Calculate the selling price after the loss. Since there is a 10% loss, the selling price is 90% of the cost price. This can be written as: Selling Price = Cost Price - Loss = x - 0.10x = 0.90x.
Step 5: Set up the equation: 0.90x = 90, because the selling price is $90.
Step 6: Solve for x by dividing both sides of the equation by 0.90: x = 90 / 0.90.
Step 7: Calculate the value: x = 100.

Cost Price and Selling Price – Understanding the relationship between cost price, selling price, and loss percentage.
Percentage Calculations – Calculating losses and understanding how they affect selling price.