Question

A shopkeeper expects a gain of 22% on his cost price. If in a week, his sale was of Rs. 366, what was his profit?

Answer 1

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Profit% = 22%
SP = Rs 366
As we know the formula
$c.p \: = \frac{s.p \times 100}{100 + profit\%} \\ c.p = \frac{366 \times 100}{100 + 22} \\ c.p = \frac{36600}{122} \\ c.p = 300 \: rupees$
Now
Profit = SP - CP
$= 366 - 300 \\ = 66 \: rupees$
Hence
CP = Rs 300
Profit = Rs 66

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