A man sold a radio for rupees 1980 and gained 10%. The radio was bought for:
Question
A man sold a radio for rupees 1980 and gained 10%. The radio was bought for:
Solution
To find the cost price of the radio, we need to understand that the selling price given in the problem is inclusive of the 10% profit.
Step 1: Let's denote the cost price (the price at which the man bought the radio) as X.
Step 2: According to the problem, the selling price (the price at which the man sold the radio) is 10% more than the cost price. This can be written as X + 10% of X.
Step 3: We know that the selling price is 1980 rupees. So, we can set up the equation X + 10% of X = 1980.
Step 4: To make the calculation easier, we can express 10% as 0.10. The equation then becomes X + 0.10X = 1980.
Step 5: Combining like terms gives us 1.10X = 1980.
Step 6: Finally, to find X (the cost price), we divide both sides of the equation by 1.10. This gives us X = 1980 / 1.10.
Step 7: Calculating the above expression gives us X = 1800.
So, the man bought the radio for 1800 rupees.
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