A merchant incurred a loss of ₹200 on an item. If the loss percentage was 8%, what was the cost price?

Question

Accepted Answer

1. Let the cost price be $CP$. Loss = ₹200 and loss% = 8%.

2. Loss% formula: $8=\dfrac{200}{CP}	imes100$.

3. Solve for $CP$: $CP=\dfrac{200	imes100}{8}=200	imes12.5=2500$.

4. So the cost price is **₹2,500**.

FINAL_ANSWER: b

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