Question

If a coffee mug with a cost price of ₹80 was sold a profit of 5%, then the selling price is
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Answer 1

Question :-

If a coffee mug with a cost price of Rs 80 was sold at a profit of 5%, then what is the selling price?

Answer :-

• Selling Price of the coffee mug = Rs 84.

Given :-

• Cost Price of the coffee mug = Rs 80.
• It was sold at a profit of 5%.

To find :-

• The Selling Price of the coffee mug.

Step-by-step explanation :-

Cost Price of the coffee mug = Rs 80.

Profit percentage = 5%.

Profit and Loss percent is always calculated on the Cost Price.

So, first let's find the profit she gained.

Profit gained by her = 5% of Rs 80.

Lets find it's value.

$\sf \: 5\% \: of \: Rs \: 80.$

$\sf \dfrac{5}{100} \times Rs \: 80$

Now let's reduce the numbers. First we will cut off the zeroes.

We are left with :-

$\sf \dfrac{5}{10} \times Rs \: 8$

10 and 8 are divisible by 2. So reduce them.

We get :-

$\sf \dfrac{5}{5} \times \: Rs \: 4$

Now, let's multiply the remaining numbers.

1 × Rs 4 = Rs 4.

Thus, the Profit gained = Rs 4.

Now, we have the formula :-

Selling Price = Cost Price + Profit.

Applying this formula,

Selling Price = Rs 80 + Rs 4 = Rs 84.

So, the selling price of the coffee mug is Rs 84.