# By selling a book for ₹50, a shopkeeper suffers a loss of 10%. The cost price of the book is ₹60. State whether the statement is true or false.

**Solution:**

By selling a book for ₹50, a shopkeeper suffers a loss of 10%. The cost price of the book is ₹60.

We have to determine if the given statement is true or false.

According to the question,

SP = ₹50

Loss% = 10%

We know, Loss = CP - SP

Loss% = Loss/CP × 100

10 = (CP - SP)/CP × 100

10 = (CP - 50)CP × 100

10 = 1 - 50/CP × 100

10/100 = 1 - 50/CP

1/10 - 1 = -50/CP

(1 - 10)/10 = -50/CP

-9/10 = -50/CP

9/10 = 50/CP

CP = 50×10/9

= 500/9

= 55.55

Therefore, CP is ₹55.55

**✦ Try This: **By selling a chair for ₹250, a shopkeeper suffers a loss of 20%. The cost price of the chair is ₹180. State whether the statement is true or false.

**☛ Also Check: **NCERT Solutions for Class 7 Maths Chapter 8

**NCERT Exemplar Class 7 Maths Chapter 7 Problem 72**

## By selling a book for ₹50, a shopkeeper suffers a loss of 10%. The cost price of the book is ₹60. State whether the statement is true or false

**Summary:**

The given statement,”By selling a book for ₹50, a shopkeeper suffers a loss of 10%. The cost price of the book is ₹60” is false.

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