Question

An article was sold for ₹250 with a profit of 5%. What was its cost prize?

Answer 1

Let the cost price of the article be Rs. x.

Then, profit will be

$\frac{5}{100} x = \frac{1}{20} x$

A/c

SP =CP + Gain

$= > 250 = x + \frac{1}{20} x \\ = > 250 = \frac{20x + 1}{20} \\ = > 250 \times 20 = 20x + 1 \\ = > 5000 = 20x + 1 \\ = > 20x = 5000 - 1 \\ = > 20x = 4999 \\ = > x = \frac{4999}{20} \\ x = 249.95.$