A stock is sold at a loss of 10%. If the selling price is $90, what was the cost

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Question: A stock is sold at a loss of 10%. If the selling price is $90, what was the cost price?

Options:

Correct Answer: $100

Solution:

Let Cost Price = x. Selling Price = x - 10% of x = 0.9x. Therefore, 0.9x = 90, x = 90 / 0.9 = $100

A stock is sold at a loss of 10%. If the selling price is $90, what was the cost price?

A stock is sold at a loss of 10%. If the selling price is $90, what was the cost price?

Step 1: Understand that the selling price is $90 and this is after a loss of 10%.
Step 2: Let the cost price be represented as 'x'.
Step 3: Since there is 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: In mathematical terms, this means Selling Price = x - 0.1x = 0.9x.
Step 5: We know the selling price is $90, so we can set up the equation: 0.9x = 90.
Step 6: To find 'x', divide both sides of the equation by 0.9: x = 90 / 0.9.
Step 7: Calculate the value: x = 100.
Step 8: Therefore, the cost price is $100.

Percentage Loss – Understanding how to calculate selling price based on cost price and percentage loss.
Algebraic Manipulation – Using algebra to solve for the unknown variable (cost price) in an equation.