Question

If the cost price for a product is Rs 256, then find the selling price of this product when the loss is 10%.

Answer 1

Hint: If we are given a product at cost price equal to x and we are given that we have to sell this at some y % loss then the selling price is given by the formula $x-\dfrac{xy}{100}$. Using this formula, we can solve this question.

Complete step-by-step answer:
Before proceeding with the question, we must know the formula that will be required to solve this question.
If we are given a product which is having its cost price equal to x and we are required to sell it at y % loss then its selling price will be given by the formula $x-\dfrac{xy}{100}$. . . . . . . . (1)
In this question, we are given that the cost price for a product is Rs 256. We are required to find the selling price of this product when the loss is 10%.
Substituting x = 256 and y = 10 in the formula (1), we get the selling price of this product equal to,
$\begin{align}
  & 256-\dfrac{256\times 10}{100} \\
 & \Rightarrow 256-25.6 \\
 & \Rightarrow 230.4 \\
\end{align}$
Hence, the selling price of the product is Rs. 230.4.

Note: It is an easy question which can be solved by adequate knowledge of percentage. But since it is an easy question, it is possible that one may commit a mistake while doing the calculations while solving this question in a hurry. For example, there is a possibility that one may write $\dfrac{256\times 10}{100}$ equal to 2.56 instead of 25.6. So, one must be careful while doing these types of calculations.