Question

A man sold a fan for Rs. 400. Find the cost price if he incurred a loss of 15%.

Answer 1

Answer:

Cost price of the fan is $\text {Rs. 470.59}$.

Step-by-step explanation:

Given: A man sold a fan for  $\text{Rs.}\:400$. He incurred a loss of $15\%$.

To find: The cost price of the fan

Solution:

We have,

Selling price, S.P.,  of the fan $= \text{Rs.} 400$

Loss $=15\%$

We know that $\text {Loss\%}=\frac{\text{C.P.-S.P.}}{\text{C.P.}}\times100\%$

Now let the C.P. of the fan be $\text{Rs.} \:x$

So, $15=(\frac{x-400}{x})\times 100$

$\implies 15x=100x-40000$

$\implies 100x-15x=40000$

$\implies 85x=40000$

$\implies x=\frac{40000}{85}$

$\implies x= 470.59$

Hence, the cost price of the fan is $\text {Rs. 470.59}$.