Question

In selling a plot of land for ₹ 61200 a profit of 20% is made the cost price of the plot is

Answer 1

Given: The selling price of a plot of land(S.P.)=₹ 61200

            The percentage of profit=20%

To find The cost price of the plot (C.P.)

Solution: The price of some products to which we sell those products is referred to as the selling price(S.P.). The price which is considered to be the original price of a product is said to be the cost price(C.P.). We can get a profit only if the selling price(S.P.) is more than the cost price(C.P.) and if S.P. is less than C.P., then we get a loss.

Now from above S.P.=₹ 61200 and profit %(P%) =20

∴ We know that, S.P.= {(100 + P%)/100} × C.P.    (∵ SP > CP, as profit% is given and profit= S.P.-C.P.)

⇒ C.P. =S.P./{(100 + P%)/100}

⇒ C.P.= ₹{61200/{(100 + 20)/100}} [substituting the values of S.P. and P%]

⇒ C.P.= ₹{61200/{120/100}}

⇒ C.P.= ₹{(61200×100)/120}

⇒ C.P.= ₹{5100×10}  [dividing the numerator with 120]

⇒ C.P.= ₹51000

Hence the cost price of the plot (C.P.) is ₹51000.

Answer 2

Answer:

sp=61200

p=20%

cp=100/100+20*61200=

100/20*61200=51000