Question

an electric iron was sold for ₹450with a profit of 5%.what was the cost price​

Answer 1

Answer:

Rs.428.57

Step-by-step explanation:

Profit = 5%. This means

if CP = 100, then SP = 105

We have SP = 450

Using ratio proportion, we get:

CP = (450*100)/105 = 428.57 (approx)

The cost price of the iron is Rs.428.57

We can also use the general formula:

SP = CP + (P%/100)*CP

Where P% is the profit%

450 = CP + (5/100)*CP

450 = CP + 0.05*CP

450 = CP(1.05)

CP = 450/1.05

CP = 428.57 (approx)