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Profit, Loss & Discount · Question 7 of 72

Question 7

EasyOriginal question

Meenakshi sold a wooden chair for ₹1,530 and lost 10% on the deal. What was its cost price?

Options for question 7

Show the answer and explanation
CorrectNot quiteAnswer D

Correct answer: D

Explanation

  1. At a 10% loss, SP = 90% of CP.

  2. CP = 1530×10090=17001530 \times \frac{100}{90} = 1700.

Worth noting

Adding 10% of the selling price gives ₹1,683. That is wrong because the loss is 10% of the CP, which is larger than the SP.

Concept
Cost price from selling price and loss %
Typical time
40 s
Your time
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The rule this testsProfit and loss
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