Question

An article when sold at 10% discount on the marked price gave a profit of Rs. 70. What is the CP?

Answer 1

Profit % = (( Profit )/ (Cost price))×100

Profit = Cost price - Selling price

Let cost price be x

So,

10 = (70/x)×100

x= (70 × 100)/10

x=7000

So,

The cost price of the item is 7000 rupees

Answer 2

Answer:

The cost price is Rs 20

Step-by-step explanation:

Let the marked price of the article is Rs 100.

Now, the discount is 10%. It means the discount is 10% of 100 = Rs 10

Thus, the selling price of article is 100 - 10 = Rs 90

The profit is Rs 70. Hence, the cost price is given by

Cost Price = selling price - profit

Cost price = 90 - 70

Cost price = Rs 20