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Question
By selling a certain number of goods for Rs. 5,500; a shopkeeper loses equal to one-tenth of their selling price. Find:
- the loss incurred
- the cost price of the goods
- the loss as a percent.
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Solution
S.P. = Rs. 5,500
Loss = `1/10` of (S.P.)
= `1/10xx5500`
= Rs. 550
(i) Loss incurred = Rs. 550
(ii) C.P. = Rs. 5,500 + Rs. 550
= Rs. 6,050
(iii) Loss % = `(550xx100)/6050`
= `(10xx100)/110`
= `100/11`
= `9 1/11%`
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