Question

By selling a wooden table of a loss of $20\% $ a shopkeeper makes a loss of $Rs.90$. Find it’s
$(a)$ Selling Price
$(b)$ Cost Price

Answer 1

Hint: In this question use the basic formula of profit and loss like $Loss\% = \dfrac{{loss}}{{CP}} \times 100$ and $ Loss = CP - SP $. Use this to find the selling price and cost price of a wooden table.

Complete step-by-step solution -
From the question, we don’t know the cost price so let the cost price be $x$.
Now , it is given that a shopkeeper sells a wooden table at $20\% $ loss and makes a loss of $Rs.90$.
Hence given
$
  loss\% = 20\% \\
  loss = Rs.90 \\
$
We know that $ Loss\% = \dfrac{{loss}}{{CP}} \times 100$
Hence substituting the value in the formula we get
$
   \Rightarrow \dfrac{{20}}{{100}} = \dfrac{{90}}{x} \\
   \Rightarrow x = \dfrac{{90 \times 100}}{{20}} \\
   \Rightarrow x = 90 \times 5 = Rs.450 \\
 $
$\therefore x$ i.e. Cost Price is $Rs.450$
Again we know that $ Loss = CP - SP$
Hence substituting the value in the formula, we get
$
   \Rightarrow 90 = 450 - SP \\
   \Rightarrow SP = 450 - 90 = Rs.360 \\
 $
So, the Selling Price is $Rs.360$
       The Cost Price is $Rs.450$

Note: It is advisable to remember the basic formulas of finding profit, loss , selling price and cost price while involving into Profit and Loss questions as it helps save a lot of time. Here profit and loss is respectively related to the profit percentage and loss percentage.