Question

• What is the cost price of a bag if it was sold for Rs 500 at a loss of 5%? ​

Answer 1

526.32

Explanation:

Let's assume that the cost price of the bag is "C".

Selling Price = Cost Price - Loss

We get:

500 = C - 0.05C

500 = 0.95C

C = 500/0.95

C ≈ 526.32

Therefore, the cost price of the bag was approximately Rs 526.32.