Question

Mohan sold a fan for 896 and earns a profit of 12%. Find its cost price.
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Answer 1

Cost Price = ₹800

Step-by-step explanation:

GIVEN

Selling Price = 896

Profit Percent = 12%

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To Find

Cost Price

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We know that,

Cost Price = ( Selling Price × 100 ) / ( 100 + Profit Percent )

Cost Price = ( 896 × 100 ) / ( 100 + 12 )

Cost Price = 89600 / 112

Cost Price = 800

Cost Price = ₹800

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IMPORTANT

When profit percent is given

Cost Price = ( Selling Price × 100 ) / ( 100 + Profit Percent )

When loss percent is given

Cost Price = ( Selling Price × 100 ) / ( 100 - Loss Percent )