Select the correct answerAn item is sold for Rs.7130 making a 15% profit. What is the cost price (in Rs) of this item?Options6125600062506200
Question
Select the correct answerAn item is sold for Rs.7130 making a 15% profit. What is the cost price (in Rs) of this item?Options6125600062506200
Solution
To find the cost price of the item, we need to understand that the selling price is 115% of the cost price because a 15% profit was made.
So, if 115% of the cost price is Rs.7130, we can find 100% (which is the cost price) by setting up the following equation:
115/100 = 7130/cost price
Solving for the cost price gives us:
Cost price = 7130 * (100/115) = Rs.6200
So, the cost price of the item is Rs.6200.
Similar Questions
Select the correct answerA trader sold an article at profit of 20%. Had he bought that article at 60% less price and sold it at Rs 90 less, then he would have gained 50%. What is the value (in Rs) of cost price?Options150250300200
Select the correct answerA person sells a book for Rs.11. He gains as many percent as its cost price in rupees. What is the cost price?Options10304020
elect the correct answerA person sold an article for 30% profit, If he had Bought it for 10% less he would have reduced price by Rs.330 and earns a profit of 20%. What is the cost price of an Article?Options14001600155017001500
Select the correct answerIf a saree is sold for Rs 1900 the seller will face 5% loss, at what price (in Rs) should he sell the saree to gain 15% profit?Options2200250023002400
Select the correct answer 13 of the total of an article is sold at a profit of 15%, 14 is at a profit of 20% and the remained part is at a profit of 24%. If the total profit is Rs.6,240 find the cost price of the article?OptionsRs.31000Rs.35000Rs.32000Rs.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.