Question
Download Solution PDFSafia calculated his loss percent as 14\(\frac{2}{7}\)% on cost price. The ratio of selling price to cost price will be:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Loss percent on cost price = 14\(\frac{2}{7}\)%
We need to find the ratio of selling price (SP) to cost price (CP).
Formula Used:
Loss Percent = \(\frac{CP - SP}{CP} \times 100\)
Ratio of SP to CP = SP / CP
Calculation:
14\(\frac{2}{7}\)% = \(\frac{100}{7}\)%
\(\frac{100}{7}\) = \(\frac{CP - SP}{CP} \times 100\)
\(\frac{1}{7}\) = \(\frac{CP - SP}{CP}\)
\(\frac{1}{7} CP = CP - SP\)
\(SP = CP - \frac{1}{7} CP\)
\(SP = \frac{7 CP - 1 CP}{7}\)
\(SP = \frac{6 CP}{7}\)
\(\frac{SP}{CP} = \frac{6}{7}\)
The ratio of selling price to cost price is 6 : 7.
The ratio of selling price to cost price will be 6 : 7.
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