Question

By selling a fan for Rs 649, Anil earns a profit of 18% Find its cost price

Answer 1

Step-by-step explanation:

$cost \: price = \frac{649 \times 100}{100 + 18} = \frac{64900}{118} = 550$

I hope it helped you

Answer 2

The Cost Price of the Fan is Rs.550

Explanation:

Given:

1. Selling Price of Fan = Rs. 649

2. Profit = 18%

To find:

The Cost price of the Fan

Formula:

Profit = Selling Price - Cost Price

Loss = Cost Price - Selling Price

Profit% =  $\frac{Profit}{CP}\times 100$

Loss % = $\frac{Loss}{CP}\times 100$

Solution:

==> Profit% =  $\frac{Profit}{CP}\times 100$

==> Profit% = $\frac{SP-CP}{CP}\times 100$

==> Profit% = $(\frac{SP}{CP}-\frac{CP}{CP}) \times 100$

==> Profit% = $(\frac{SP}{CP}-1) \times 100$

==> $\frac{Profit}{100} =(\frac{SP}{CP}-1)$

==>  $1+\frac{Profit}{100} =\frac{SP}{CP}$

==> $SP=CP(1+\frac{Profit}{100} )$

==> Substitute the given values in the formula

==> $649=CP(1+\frac{18}{100} )$

==> $649=CP(\frac{118}{100} )$

==> 649× 100 = CP×118

==>64900 = CP×118

==> CP = 64900÷118

==> CP = Rs.550

==> Profit = SP-CP

==> Profit = 649-550

==> Profit = Rs.99

The Cost Price of the Fan is Rs.550