Question

By selling an article for Rs 1420 a man makes profit of 15 percent.Find the profit and the cost price?
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Answer 1

Given :

• SP = Rs.1,420
• Profit% = 15%

To Find :

• The CP.
• The Profit.

Solution :

Analysis :

Here we have to first find the Cost Price using the required formula and then we can find the profit by its formula.

Required Formula :

• SP = (1 + Profit%/100) × CP

• Profit = SP - CP

Explanation :

Let us assume that the cost price is "CP".

We know that if we are given the SP and Profit% and is asked to find the CP then our required formula is,

SP = (1 + Profit%/100) × CP

where,

• SP = Rs.1,420
• Profit% = 15%
• CP = CP

Using the required formula and substituting the required values,

⇒ SP = (1 + Profit%/100) × CP

⇒ 1420 = (1 + 15%/100) × CP

⇒ 1420 = (1 + 15/100) × CP

⇒ 1420 = (1 + 3/20) × CP

⇒ 1420 = (20 + 3/20) × CP

⇒ 1420 = (23/20) × CP

⇒ 1420 = 23/20 × CP

⇒ 1420 × 20/23 = CP

⇒ 28400/23 = CP

⇒ 1234.78 = CP

∴ CP = Rs.1234.78.

Now the Profit :

We know that if we are given the CP and SP and is asked to find the Profit then our required for is,

Profit = SP - CP

where,

• SP = Rs.1,420
• CP = Rs.1,234.78

Using the required formula and substituting the required values,

⇒ Profit = SP - CP

⇒ Profit = Rs.(1420 - 1234.78)

⇒ Profit = Rs.185.22

∴ Profit = Rs.185.22.

CP = Rs.1,234.78.

Profit = Rs.185.22.

Verification :

Profit% = Profit/CP × 100

where,

• Profit% = 15%
• Profit = Rs.185.22
• CP = Rs.1234.78

⇒ Profit% = Profit/CP × 100

⇒ 15% = 185.22/1234.78 × 100

⇒ 15% = 0.15 × 100

⇒ 15% = 15%

∴ LHS = RHS.

• Hence verified.

Answer 2

Answer:

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