Question

Anu sells TV for Rs 8400 making a profit of 20% .what was the cost price of the TV?

Answer 1

S.P.=rs 8400
Profit=20%

C.P.=(100/100+ profit)×S.P.

C.P.=(100/120)×8400
=rs.7000

Answer 2

Let the cost price ( CP ) of the TV be ₹ x.

We know that profit is incurred on cost price therefore,

Profit = 20 % of CP
Profit = 20 % of x
Profit = 20x / 100
Profit = ₹ ( x / 5 )

We also know that selling price the result of the addition of cost price and profit,

SP = CP + Profit
SP = x + ( x + 5 )
SP = x + x + 5
SP = 2x + 5

Now we are provided that selling price amounts to ₹ 8400,

8400 = 2x + 5
2x = 8400 - 5
2x = 8395
x = 8395 / 2
x = ₹ 4197.50

Therefore,

Cost Price = ₹ 4197.50