Multiple choice

An item was sold for Rs. 540 at a loss of 5%. What was its cost price?

  1. Rs. $568.42$
  2. Rs. $508.42$
  3. Rs. $468.42$

  4. None of these
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A Correct answer
Explanation

Selling price = 540, loss = 5%. Cost price = 540 / 0.95 = 568.421.

AI explanation

Using the cost price formula, Cost Price equals Selling Price multiplied by (100 divided by (100 minus Loss Percentage)). Substituting the given values gives Cost Price equals 540 multiplied by (100 divided by (100 minus 5)). This simplifies to 540 multiplied by (100 divided by 95), which equals 540 multiplied by 20 divided by 19, resulting in a cost price of Rs. 568.42.

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