A farmer sells his product at a loss of 8%.If his S.P was Rs.27,600.What was his actual loss?What was his Cost price?
Let the C.P of the product be Rs.100
Loss=8%=8% of C.P
=8100×100=Rs.8
S.P=C.P−Loss=Rs.100−Rs.8=Rs.92
Thus if S.P is Rs.92 then C.P is Rs.100
If S.P is Rs.27600 then C.P=10092×27600=Rs.30,000
Hence Actual C.P=Rs.30,000
Actual loss=C.P−S.P
=30,000−27,600=Rs.2400