Question

Vanish lost Rs. \[3460\] on selling a microwave oven at Rs\[13240\]. Find the cost price of the microwave oven?

Answer 1

Hint: In this problem we have to find the cost price of the microwave oven. Here the selling price is given and loss is also given.
We will use the formula \[CP = SP - Loss\] to find the cost price of the microwave oven.

Complete step-by-step answer:
Given the selling price of a microwave oven ,\[SP{\text{ }} = {\text{ }}Rs.{\text{ }}13240\].
And loss on selling the microwave oven, \[loss{\text{ }} = {\text{ }}Rs.{\text{ }}3460\].
Cost price CP is given by
\[
  {CP{\text{ }} = {\text{ }}SP - LOSS} \\
  {CP = {\text{ }}13240 - 3460} \;
\]
Hence, \[CP = 9780\].
Hence the Cost Price of a microwave oven is Rs. \[9780\].
So, the correct answer is “Rs. \[9780\]”.

Note: Cost price: cost price refers to the actual price which a shopkeeper or retailer buys to sell the goods or services. It is denoted by CP.
Selling Price: selling price refers to the actual price which the shopkeeper or retailer sells goods or services to the buyer. It is denoted by SP.
Profit: If the selling price is higher than the cost price then the retailer earns an extra money which is called profit.
\[Profit{\text{ }} = {\text{ }}SP - CP\] , Whenever \[SP > CP\].
Loss: If the retailer sells the goods or services to the buyer at a lower price than what he actually buys at. Then he incurred a loss.
\[Loss = {\text{ }}CP - SP\], whenever \[CP > SP\].