Question

If a shop keepers sells a fridge for 18,000/- and gets a profit of 20 % then what was its cost price ?

Answer 1

120% = 18000

1% = 18000 ÷ 120 = 150

100% = 150 x 100 = 15000

Answer: 15000

Answer 2

Solution :-

Selling Price of the fridge = Rs. 18000

Profit = 20 %

Let the Cost Price of the fridge be Rs. x

Then, according to the question.

x + (x*20)/100 = 18000

⇒ x/1 + x/5 = 18000

⇒ (5x + x)/5 = 18000

⇒ 6x/5 = 18000

⇒ 6x = 18000*5

⇒ 6x = 90000

⇒ x = 90000/6

⇒ x = 15000

So, Cost Price of the fridge is Rs. 15000

Answer.