Question

by selling a chair for rs.522 , a shopkeeper makes a profit of 16%. what is its cost price? explain me haow?

Answer 1

Let the CP be rs.x
profit=P%/100*CP=16/100*X

ATQ, X+16/100*X=522
=>x+4x/25=522
=>29x/25=522
=>x=522*25/29
=>x=18*25=450

Answer 2

Dear Student,

● Answer -

Cost price = 450 Rs

● Explaination -

# Given -

Selling price = 522 Rs

Profit % = 16 %

# Solution -

Selling price is related to cost price as -

Selling price = Cost price × (100+profit)/100

Rearranging the eqn -

Cost price = selling price × 100 / (100+profit)

Substitute values -

Cost price = 522 × 100 / (100 + 16)

Cost price = 522 × 100 / 116

Cost price = 450 Rs

Hence, cost price of the chair is 450 Rs.

Thanks dear for asking. Hope this helps you...