Question

A shopkeeper sold a wrist watch for ₹990 gaining 1/8 of its cost price. Find the cost price of the wrist watch and his profit percent.

Answer 1

Solutions :-


Given :

Selling price of wrist watch = ₹ 990

Gaining 1/8 of its cost price.


To find :- (i) Cost Price of wrist watch.
(ii) Profit percent of wrist watch.


Let the cost price of wrist watch be x


A/q

=> x + 1/8 of x = 990
=> x + 0.125 × x = 990
=> 1.125x = 990
=> x = 990/1.125 = 880


Therefore, Cost price of watch = ₹ 880
And Profit = 1/8 of x = 1/8 × 880 = ₹ 110


Now,

Find the profit percent of wrist watch :-

Profit % = (profit × 100)/C.P %
= (110 × 100)/880 %
= 11000/880 %
= 12.5 %



Hence,
(i) The cost price of wrist watch is ₹ 880.
(ii) Profit percent of wrist watch is 12.5 %.