Question

Find the selling price of a table, if its cost price is ₹. $ 1250 $ and loss is $ 15\% $ .

Answer 1

Hint: To find a solution to this type of problem in which the cost price of the article Profit or Loss as a Percentage and loss percentage is given. We first calculate loss occurred on a given article by using the given percentage and then finding the difference of the cost price and loss to find the selling price of an article.
Selling price of an article is given as: $ S.P = C.P.\left( {\dfrac{{100 - L\% }}{{100}}} \right) $ .

Complete step-by-step answer:
Here, the cost price of a table is ₹. $ 1250 $ .
Loss on a table is $ 15\% $ .
Since, we know that loss and profit can always be calculated on the cost price of the article.
Therefore, in this given problem to find the selling price of a table. We first calculate the amount of a loss and then subtract it from the cost price of a table to get the selling price of a table.
Amount of a loss on a table = $ 15\% \,\,of\,\,\operatorname{Cos} t\,\,price\,\,of\,\,a\,\,table $
 $
Loss = 15\% \left( {1250} \right) \\
\Rightarrow Loss = \dfrac{{15}}{{100}} \times 1250 \\
 \Rightarrow Loss = \dfrac{{15}}{{10}} \times 125 \\
 \Rightarrow Loss = 1.5 \times 125 \\
 \Rightarrow Loss = 187.5 \;
  $
Also, we know that if there is a loss on an article. Therefore, the selling price of an article will be less than the cost price.
Also, relation between selling price and cost price when loss occurs is given as:
$Selling\,\,price = \,\,\operatorname{Cos} t\,\,price - \,\,Loss\,\,on\,\,article $
Substituting values in above. We have,
$
Selling\,\,price = \,\,1250 - 187.5 \\
\Rightarrow Selling\,\,price = 1062.5 \;
 $
Therefore, from above we see that the selling price of a table having a $ 10\% $ loss on cost price ₹. $ 1250 $ is ₹. $ 1062.5 $

Note: We can also solve given problems in other ways also. In this type we can directly apply formula depending whether there is a loss percentage given or profit percentage given. Two respective formulas are:
 $ S.P. = C.P.\left( {\dfrac{{100 + P\% }}{{100}}} \right)\,\,\,\,and\,\,\,S.P. = C.P.\left( {\dfrac{{100 - L\% }}{{100}}} \right) $ .