Question

a shopkeeper sold a wrist watch fot 990ganing 1/8 of its cost price. find the cost price of wrist watch and it's profit percent

Answer 1

let cost price = x

so profit = 1/8× x = x/8

cost price = sales price - profit

x = 990 - (x/8)

8x = 7920 - x

9x = 7920

x = 880

profit  = x/8 = 880/8 = 110

profit % = (profit × 100 ) / cost price = (110 × 100)/880 = 12.5%

hence cost price = 880 and profit % = 12.5%