Question

on selling an article at 1,950 james gained a profit of 30%. find the price for which he purchased the article.​

Answer 1

Answer:

The price for which he purchased the article = Rs 1,500

Step-by-step explanation:

Given

Selling Price ( SP ) = Rs 1,950

Profit % = 30 %

We know that:

   Profit % = $\frac{SP-CP}{CP}*100$

⇒ 30 = $\frac{1950-CP}{CP}*100$

⇒ 30CP = ( 1950 - CP ) × 100

⇒ 30CP = 1,95,000 - 100CP

⇒ 30CP + 100CP = 1,95,000

⇒ 130CP = 1,95,000

⇒ CP = $\frac{195000}{130}$

∴ CP = Rs 1,500

Therefore,

The price for which he purchased the article = Rs 1,500