Question

By selling chair for ₹30,a dealer makes a profit of 25% . find what price did the dealer pay for it?

Answer 1

Answer:

Step-by-step explanation:

Cost Price (CP)

Let CP be x

Selling Price (SP) = ₹ 30

Profit % = 25%

Profit % is on CP

This implies that The equation will be

x + 25% of x = 30

x + 1/4 of x = 30

x + x/4 = 30

5x/4 = ₹30

x = 30 × 4/5

x = 6×4

x = ₹24

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