Question

Cost price rs 30375, profit is 10% on sale. Calculate the profit

Answer 1

Cost price = ₹ 30375
Profit % = 10 %
From the given data,
Selling price = (100 + Profit %/100 ) cp
= ( 100 + 10/ 100) 30375
= (110 / 100) 30375
= 11/10 * 30375
= 334125/10
= 33412.5
Therefore selling price is ₹ 33412.5

Answer 2

Answer:

The selling price for the product is ₹ 33412.5

Explanation:

Formula Used:

Profit = Selling Price - Cost price

Selling Price = (100 + Profit %)*Cost Price

Definition:

Selling Price:

• The cost a consumer pays to acquire a good or a commodity is known as the selling price.
• It is a price that is higher than the cost price and also includes a portion of the profit.
• The cost price is the amount paid by the seller for the item or service.

Profit:

• The difference between an economic entity's revenue from its outputs and the opportunity costs of its inputs is what is known as a profit.
• It is equivalent to total income less total expenses, which includes both direct and indirect expenses.

Cost Price:

• The cost price in retail systems indicates the particular value that corresponds to the unit price paid.

Given:

Cost price = Rs.30,375

Profit Percentage = 10 %

To Find:

Selling Price

Solution:

Selling price = (100 + Profit %)*CP

$= ( 100 + \frac{10}{100} ) *30375$

$=\frac{11}{10} *30,375$

$= 3,34,125/10$

= 33,412.5

Therefore selling price is ₹ 33412.5

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