Question

a trader earns rs 20 on selling a product at 10% above the cost. what is its cost price?

Answer 1

if 10% of an cost is =20 rupees

so, 10×x/100=20
10x/100=20
10x=2000
x=2000/10
x=200

so cost price is 200

Answer 2

Answer:

The Cost Price of the product is Rs. 200

Step-by-step explanation:

Let the Cost Price be 'x'

According to the question,

Selling Price = 10% more than the Cost Price

=> Selling Price = $\frac{10}{100}$ * x + x

                          = $\frac{11x}{10}$

It is given that the trader makes a profit of Rs. 20

=> Selling Price > Cost Price and Profit = 20

We know that Profit = Selling Price - Cost Price

On substitution, we get,

20 =  $\frac{11x}{10}$ - x

=> 20 =  $\frac{x}{10}$

=> x = 200

Therefore, the Cost Price of the product is Rs. 200