Question

if an item is sold for 1800at a profit 20% then the coast price is ?​

Answer 1

GIVEN

We are given that an item is sold for Rs.1800 at a profit of 20%

TO FIND

We need to find the cost price of the item.

METHOD

We need to find the cost price of item , for that we can use the formula of %profit.

FORMULA

Cost price can be calculated from the %profit formula

%profit = Selling Price - Cost price / Cost price × 100

%profit = SP - CP / CP × 100

SOLUTION

%Profit = 20%

S.P = Rs.1800

==> 20 = [1800 - CP / CP] × 100

==> 1/5 = [1800 - CP / CP]

==> CP = 9000 - 5CP

==> 6CP = 9000

==> CP = Rs.1500

Therefore the Cost Price of the item = Rs. 1500