By selling an article for Rs. 940 a man incurs a loss of 6% what is its cost price?
Given:
Selling Price of an article = ₹940
Loss = 6%
Formula Used:
Loss = CP - SP
Loss Percent =
Solution:
Let the cost price be x
Then, loss = 6% of x = 0.06x
Selling Price = x- 0.06x = 0.94x
0.94x =940
x = = ₹1000
Alternative Method:
CP = SP
= = ₹1000
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