Question

If an object is sold for Rs. 1,200 at gain of 30% on sale price then the profit is

Answer 1

Given :-

Selling price = ₹1200

Gain % = 30%

To Find :-

The profit in rupees

Solution :-

Let the CP be x

Profit = 30% of CP

$=\: {\dfrac{30}{100}}\: \times x$

$=\: {\dfrac{3x}{10}}$

SP = CP + Profit

$=\: x\: +\: {\dfrac{3x}{10}}$

$=\: {\dfrac{10x + 3x}{10}}$

$=\: {\dfrac{13x}{10}}$

But, Also given that SP = ₹1200

A/q,

${\dfrac{13x}{10}}\: =\: 1200$

$\implies 13x\: =\: 1200\: \times 10$

$\implies x\: =\: {\dfrac{1200 \times 10}{13}}$

=> x = 923.07

Therefore, CP = ₹ 923.07

Profit = SP - CP

= 1200 - 923.07

= 276.93

Therefore, Profit is of ₹276.93

Short-hands Used :-

• CP = Cost Price
• SP = Selling Price
• P = Profit
• L = Loss

Extra Information :-

• Cost price :- It is the price at which an article is bought.
• Selling price :- It is the price at which an article is finally sold.
• Profit :- It is the total money gained by selling the article at more price than CP.
• Loss :- It is the total money losed by selling the article at less price than CP.