By selling one book for ₹250, loss percentage is 10%. What is the cost price?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 277.7
A loss of 10% means the selling price is 90% of the cost price, so the cost price is found by dividing the selling price by 0.9.
\(0.9\times\text{CP}=250\)
\(\text{CP}=\displaystyle\frac{250}{0.9}=\frac{2500}{9}=277.77\ldots\)
The cost price is about ₹277.8, which Option (1) gives as 277.7 (cut off after one decimal place). The cost price must be more than ₹250 because the book was sold at a loss, and 285 and 315 would give losses of about 12% and 21%.