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A pair of shoes was sold for ₦2,250.00 at a loss of 10%. What was the cost price?

Mathematics

ScanSolve AI Answer

Answer

B\text{B}

Step-by-step solution

4 steps

Here's how to find the cost price:

  1. Identify the given values.

    The selling price (SP) is N2,250.00\text{N}2,250.00.
    The loss percentage is 10%10\%.

  2. Understand the relationship between selling price, cost price, and loss.

    When there is a loss, the selling price is the cost price minus the loss.
    If the loss is 10%10\%, it means the selling price is 100%−10%=90%100\% - 10\% = 90\% of the cost price.
    So, SP=(1−0.10)×CP\text{SP} = (1 - 0.10) \times \text{CP}
    SP=0.90×CP\text{SP} = 0.90 \times \text{CP}

  3. Substitute the known values into the formula and solve for the cost price (CP).

    2,250.00=0.90×CP2,250.00 = 0.90 \times \text{CP}

    To find CP, divide the selling price by 0.90:

    CP=2,250.000.90\text{CP} = \frac{2,250.00}{0.90} CP=2,500.00\text{CP} = 2,500.00

    The cost price was N2,500.00\text{N}2,500.00.

  4. Select the correct option.

    The calculated cost price matches option B.

    The final answer is B\text{B}

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