Supriya sold a washing machine for ₹ 8500. She incurred a loss of 15% in this transaction. At what price had she bought the washing machine?
Aptitude
Profit and Loss
Difficulty: Easy
Choose an option
-
A₹ 10000
-
B₹ 1200
-
C₹ 11000
-
D₹ 10500
Answer
Correct Answer: ₹ 10000
Explanation
### Concept & Formula
The Cost Price (CP) can be calculated directly from the Selling Price (SP) and the loss percentage using the formula:
$$CP = \frac{SP}{1 - \frac{Loss\%}{100}}$$
### Step-by-Step Solution
1. Identify the given values:
Selling Price ($SP$) = ₹ 8500
Loss Percentage = $15\%$
2. Set up the equation:
A loss of $15\%$ means the SP is $85\%$ of the CP.
$$SP = 85\% \text{ of } CP$$
$$8500 = 0.85 \times CP$$
3. Solve for CP:
$$CP = \frac{8500}{0.85}$$
Multiply numerator and denominator by 100:
$$CP = \frac{850000}{85} = 10000$$
### Exam Strategy & Shortcut
If SP represents $85\%$, then $85\% = 8500$.
$1\% = 100$.
$100\% \text{ (which is CP)} = 100 \times 100 = 10000$.
### Common Pitfall
A very common mistake is calculating $15\%$ of the Selling Price (8500) and adding it to the SP, which results in $8500 + 1275 = 9775$. Loss must always be calculated on the Cost Price.
### Final Answer
Therefore, the correct answer is **₹ 10000**.