Question

Niranjana sells a sofa set for ₹9,600 making a profit of 20%. What price did she buy it?

Answer 1

Answer:

The cost price of the sofa set was Rs.8,000.

Step-by-step explanation:

The selling price of the sofa set is, SP = Rs. 9,600

The profit percent is, P% = 20%.

The formula to compute the selling price when there is a profit earned is:

$SP=CP(1+\frac{P\%}{100})$

Compute the cost price as follows:

$SP=CP(1+\frac{P\%}{100})\\9600=CP(1+\frac{20}{100})\\CP=\frac{9600}{1.20} \\=8000$

Thus, the cost price of the sofa set was Rs.8,000.

Answer 2

SP = ₹ 9600

Profit=20%

CP=9600 x 100/100+20= 166.60