Question

By selling a chair for 522, a shopkeeper makes a profit of 16%. What is its cost price?​

Answer 1

Answer:

Answer:

Selling Price = Rs. 522

Profit % = 16 %

Cost Price = ?

We know that,

Profit = Selling Price - Cost Price

Let us assume selling price to be 'x' in this case.

=> Profit = 522 - x

Profit % = ( Profit / CP ) × 100

=> 16 % = ( 522 - x / x ) × 100

=> 16 × x = ( 522 - x ) × 100

=> 16x = 52200 - 100x

=> 100x + 16x = 52200

=> 116x = 52200

=> x = 52200 / 116

=> x = 450

Hence the original Cost price of the chair was Rs. 450.

Hope it helped !

Answer 2

Step-by-step explanation:

Selling Price = Rs. 522

Profit % = 16 %

Cost Price = ?

We know that,

Profit Selling Price Cost Price

Let us assume selling price to be 'x' in

this case.

=>Profit= 522 - x

Profit %= ( Profit/ CP) x 100

=>16 % = (522 - x/x) x 100

16 x x = (522 -x) x 100

the price would be 450

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