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Question
By selling an article for Rs.704; a person loses 12%. Find his cost price and the loss.
Solution
S.P. of an article = Rs.704
Loss = 12%
C.P. =`100/((100-"Loss"%))xx"S.P."`
`=100/((100-12))xx"Rs."704`
= Rs.`100/88xx704`
= Rs.100 × 8 = Rs.800
Loss = C.P. − S.P.
= Rs.800 − Rs.704
= Rs.96
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