Question

2 (e) SP = 1242 and profit = 3=% 1 % 2​

Answer 1

In context to question asked,

We have to determine the CP of the product.

As per question,

It is given that,

SP = Rs. 1242

Profit % $=3\frac{1}{2}\%$

As we know that,

Profit and loss are calculated on CP.

Let the value of CP = 100x

So, calculating the value of Profit.

$Profit = 3\frac{1}{2}\%\:CP\\=>\frac{7}{2}\%\:of\:CP\\=>3.5\%\times 100x\\=>3.5x$

Hence, We know that,

SP = CP + Profit.

Hence, $SP = 100x +3.5x = 103.5x$

Hence, from above,

$1242 = 103.5x\\=>x =\frac{1242}{103.5}=12$

Hence, the value of CP will be $100x = (100\times 12) = Rs.\:1200$

Actual Question:

Determine CP, if SP = 1242, $Profit = 3\frac{1}{2}\%$