If a man sells a TV for $800 at a loss of 20%, what was the cost price?

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Question: If a man sells a TV for $800 at a loss of 20%, what was the cost price?

Options:

Correct Answer: $960

Solution:

Let Cost Price = x. Selling Price = x - 20% of x = 0.8x. Therefore, 0.8x = 800. x = 800/0.8 = 1000.

If a man sells a TV for $800 at a loss of 20%, what was the cost price?

If a man sells a TV for $800 at a loss of 20%, what was the cost price?

Step 1: Understand that the Selling Price (SP) is $800.
Step 2: Know that the man sold the TV at a loss of 20%.
Step 3: Recognize that a loss of 20% means he sold it for 80% of the Cost Price (CP).
Step 4: Write the equation for Selling Price: SP = CP - 20% of CP.
Step 5: Rewrite the equation using 'x' for Cost Price: SP = x - 0.2x = 0.8x.
Step 6: Set up the equation: 0.8x = 800.
Step 7: Solve for x by dividing both sides by 0.8: x = 800 / 0.8.
Step 8: Calculate the result: x = 1000.
Step 9: Conclude that the Cost Price of the TV was $1000.

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