A man sells an article for $200 at a loss of 10%. What was the cost price?

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Question: A man sells an article for $200 at a loss of 10%. What was the cost price?

Options:

Correct Answer: $220

Solution:

Let Cost Price = x. Selling Price = x - 10% of x = 0.9x. 0.9x = 200. x = 200/0.9 = 220.

A man sells an article for $200 at a loss of 10%. What was the cost price?

A man sells an article for $200 at a loss of 10%. What was the cost price?

Step 1: Understand that the selling price is $200 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: We know the selling price is $200, so we can write the equation: 0.9x = 200.
Step 6: To find 'x', divide both sides of the equation by 0.9: x = 200 / 0.9.
Step 7: Calculate the value: x = 220.

Loss Percentage Calculation – Understanding how to calculate the selling price based on the cost price and the percentage loss.
Algebraic Manipulation – Using algebra to solve for the cost price from the selling price and loss percentage.