If the selling price of a fan is Rs. 306 and loss percentage is 32 percent, then what is the cost price of the fan?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Rs. 450.
Selling Price = Cost Price × (1 - Loss Percentage)
Selling Price (SP) = Rs. 306
Loss Percentage = 32% = 0.32
the Cost Price (CP) be ( x).
⇒306 = x × (1 - 0.32)
⇒ 306 = x × 0.68
⇒ x = 306 / 0.68 = 450
Thus, the cost price of the fan is Rs. 450.