Q: Loss Formula

### \text{Loss} = \dfrac{\text{Loss %}}{100} \times \text{Cost Price} ###

Q: Selling Price

The Selling Price (SP) is obtained by subtracting the loss from the cost price:

Question 1

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Understanding and mastering concepts related to general aptitude is crucial for success in various competitive exams and real-world problem-solving scenarios. Calculating the selling price of an item when a loss is incurred is a fundamental aspect of general aptitude and everyday financial literacy. This article explores how to calculate the selling price with a 20% loss, providing step-by-step explanations and practical examples to enhance your understanding.

Calculating Selling Price: The Basics

The ability to calculate the selling price, considering a loss, is a fundamental skill in general aptitude. It is a concept that helps in understanding how business transactions work. The selling price calculation is not just limited to textbooks; it has real-world applications in your day-to-day transactions.

Understanding Cost Price and Loss Percentage

Accepted Answer

The cost price (CP) is the price at which an item is bought, and the loss is the amount by which the selling price (SP) is less than the cost price. The loss percentage is the loss expressed as a percentage of the cost price. For example, if an item is bought for ₹300 and sold at a loss of ₹60, the loss percentage is ##(60/300) * 100 = 20%##. This means that for every ₹100 spent, ₹20 was lost.

Question 2

Loss Formula

Accepted Answer

### 	ext{Loss} = \dfrac{	ext{Loss %}}{100} 	imes 	ext{Cost Price} ###

Question 3

Selling Price

Accepted Answer

The Selling Price (SP) is obtained by subtracting the loss from the cost price:

Question 4

Calculating Selling Price with a 20% Loss

Accepted Answer

Let’s dive into a practical example. Suppose a trader purchases goods for ₹800 and subsequently sells them at a 20% loss. To determine the selling price, we first calculate the loss amount. The loss is 20% of ₹800, which is ##(20/100) * 800 = 160##. The selling price is obtained by subtracting the loss from the cost price, resulting in ##800 - 160 = 640##. Thus, the selling price of the goods is ₹640.

Question 5

Worked Examples

Accepted Answer

Consider an example: A shopkeeper buys a product for ₹350 and sells it at a 20% loss. What is the selling price? First, calculate the loss: ##(20/100) * 350 = 70##. Then, subtract the loss from the cost price: ##350 - 70 = 280##. Therefore, the selling price is ₹280. This is a step-by-step approach to solve a similar problem.

Question 6

Practical Applications of Selling Price Calculations

Accepted Answer

Understanding how to calculate the selling price is crucial in various real-world scenarios. For instance, consider a small business owner who needs to determine the selling price of a product to avoid losses. By understanding the cost price and loss percentage, they can set a price that covers their costs and ensures profitability, if they choose to do so.

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