Question

ii. A machine is sold for 7,000/-. The gross loss is 20% of the cost. What are the cost and gross loss?

Answer 1

Given:

Selling price of a machine = 7000/-

Gross loss = 20%.

To find:

The cost and gross loss.

Solution:

Let x be the cost of machine.

According to the question,

$x-20\%\text{ of }x=7000$

$x-\dfrac{20}{100}x=7000$

$x-0.2x=7000$

$0.8x=7000$

Divide both sides by 0.8.

$x=\dfrac{7000}{0.8}$

$x=8750$

So, the cost of the machine is 8750/-.

Now,

$\text{Gross Loss}=\text{Cost}-\text{Selling price}$

$\text{Gross Loss}=8750-7000$

$\text{Gross Loss}=1750$

Therefore, the gross loss is 1750/-.