Question

By selling a chair for Rs.1680, a trader gains 20%.Calculate its cost price

Answer 1

Answer:

1400

Step-by-step explanation:

1680/120*100

=1400

Answer 2

• The Cost Prize(C.P) of the chair is Rs 1400

Step-by-step explanation:

Given:

The Selling Prize(S.P) of a chair is Rs 1680

The gain percent (Profit%) = 20%

To find:

The Cost Prize of the chair

• The formula to find the Cost Prize(C.P) when S.P and Profit% is given

C.P = (S.P * 100)/(100 + Profit%)

C.P = (1680 * 100)/(100 + 20)

C.P = (168000)/120

C.P = 1400

Hence,

The Cost Prize (C.P) of the chair is Rs 1400

----------------

• Finding Cost Prize when Selling Prize and Loss% is given,

C.P = (S.P * 100)/(100 - Loss%)

• Profit = S.P - C.P
• Loss = C.P - S.P

• Profit% = (Profit/C.P) * 100

• Loss% = (Loss/C.P) * 100

And

• Finding Selling Prize when Profit% or Loss% are given,

S.P = C.P * (100 + Profit%)/100

And

S.P = C.P * (100 - Loss%)/100