Question

By selling a radio for ₹360, Ranjan gains 20% What is the cost price of the radio?(a)₹300 (b) ₹350 (c) ₹400 (d) ₹450

Answer 1

• Given

• Selling price of a radio = Rs. 360
• Gain % = 20%

• To find

• Cost price of the radio

• Solution

$\purple{\bigstar}$ $\boxed{\underline{\sf{\sf{\dfrac{sp \times 100}{100 + profit\%}}}}}$

Substitute the given values,

⟶ $\sf{\sf{\dfrac{sp \times 100}{100 + profit\%}}}$

⟶ $\sf{\sf{\dfrac{360 \times 100}{100 + 20}}}$

⟶ $\sf{\sf{\dfrac{36000}{120}}}$

⟶ Rs. 300

$\red{\bigstar}$The Cost price of the radio = Rs. 300

Answer ⟶ Option (a) Rs. 300

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• Cost price is the price at which an item is bought.

• Selling price is the price at which an item is sold.

• Gain % is made when selling price is more than the cost price.

• Loss % is made when cost price is more than the selling price.

Some related formulae -

• Profit = Selling price - Cost price.
• Loss = Cost price - Selling price.
• Selling price = Cost price + Profit.
• Cost price = Selling price - Profit.
• Selling price = Cost price - loss
• Cost price = Selling price + loss
• Gain% = Gain/C.P × 100%
• Loss% = Loss/C.P × 100%