Question

By selling a chair for Rs. 522, Bhopal makes a profit of 16%. What is its cost price? Pls answer by giving reasons. Pls

Answer 1

Answer:

Let the CP be x

SP= 522Rs.

profit = 16% of x

= 4x/25

CP+profit=SP

x+(4x/25)= 522Rs.

29x/25 = 522Rs.

x =450Rs.

therefore CP is 450Rs.

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Answer 2

Answer:

● 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.