By selling a chair for 522, a shopkeeper makes a profit of 16%. What is its cost price?
Answers
Answered by
95
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 !
Answered by
4
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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