Question & Answer
QUESTION

Amina buys a book for Rs.275 and sells it at a loss of 15%. How much does she sell it for?

ANSWER Verified Verified
Hint:Using the loss percentage formula we determine the value of loss . We know loss and cost price. Thus find the selling price using the basic formula to calculate loss i.e difference of cost price and selling price gives the loss.

Complete step-by-step answer:
Amina buys a book for Rs.275. So the cost price of the book is Rs.275. We need to find the selling price of the book.
It is given that the loss percentage = 15%.
We can calculate loss % by the formula, \[\dfrac{Loss}{CP}\times 100%\].
We have been given loss % = 15 %.
$
  \therefore \dfrac{Loss}{CP}\times 100%=15% \\
  \therefore \dfrac{Loss}{275}=\dfrac{15%}{100%} \\
$
Cross multiply and simplify the expression,
Loss = \[275\times \dfrac{15}{100}=\dfrac{4125}{100}=41.25\]
Thus the loss is Rs.41.25.
Loss = Cost price – Selling price.
Thus we can find selling price as,
Selling price = Cost price – Loss = 275 – 41.25 = 233.75.
Thus we got the selling price of the book as Rs.233.75.

Note: If we were asked to find profit then the formula would become, profit = selling price – cost price. Profit and Loss formula is used to determine the price of a commodity in the market and understand low profitable business.