The selling price of a book is ₹855. If the loss incurred through the sale is 10%, then what is the nominal amount of loss incurred?
Answer & explanation
Correct answer: option 1
Selling price of a book = ₹855
Loss% = 10%
Cost price =
90% of the cost price = 855
100% of the cost price = 855 × \(\frac{100}{90}\) = 950
so the amount of loss = 10% of the 950 = 95