Question

if difference between selling price and cost price is 112. profit percentage on selling price is 16 2/3.find out the cost price of article​

Answer 1

cost price is 560 Rs.

method 1 : it is given that, 16 2/3% profit percentage on selling price.

16 2/3% = 1/6

here, 1 denotes profit and 6 denotes selling price.

let proportionality constant is x.

then, selling price is 6x

and profit is x.

cost price = selling price - profit = 6x - x = 5x

a/c to question,

selling price - cost price = 112

⇒6x - 5x = 112

⇒x = 112

so, cost price = 5x = 5 × 112 = 560 Rs.

method 2 : S.P - C.P = 112 ....(1)

we know, S.P - C.P = profit

so, Profit = 112.

given, profit % = 16 2/3 % of S.P

or, 112 = 50/3 × 1/100 × S.P

or, 112 = 1/6 × S.P

or, 112 × 6 = S.P

or, S.P = 672

and C.P = S.P - profit = 672 - 112 = 560

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