Question

a dealer sold a camera for Rs 1080 gaining 1/8 of its cost price find (1) cost prise of camera (2) the gain percent earned by the dealer

Answer 1

Let the cost price be x.

The selling price is Rs 1080 which includes a gain of 1/8 of the cost price.

Therefore selling price is x+x/8=1080

9x=8640

x=960

Cost price of the camera is Rs960.

Selling price -Cost price=profit

Therefore 1080-960=120 is the profit

When the cost price is 960 the profit is 120

Therefore when the cost price is 100 the profit will be 120/960*100=12.5%

Percentage earned by the dealer is 12.5%