Question

24. Selling price of a toy car is Rs. 120. If the profit made by the
shopkeeper is 20%, what is the cost price of this toy? *​

Answer 1

Given :

• SP = ₹120
• Profit % = 20%

To find :

• CP

Formula used :

• Profit% = ( Profit × 100) ÷ CP
• Profit = SP - CP

Solution :

=> Profit % = (Profit × 100) ÷ CP

=> Profit % = { (SP - CP) × 100} ÷ CP

putting respective values, we get;

=> 20 = { (120-CP)× 100 } ÷ CP

=> 20CP = 12000 - 100CP

=> 100CP + 20CP = 12000

=> 120CP = 12000

=> CP = 12000/120

=> CP = 100

ANSWER : CP = ₹100

Additional information :

• Loss = CP - SP
• Loss % = (Loss × 100) ÷ CP