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☆To find :-
The cost price of the item.
☆Given :-
Selling price = Rs 749 and gain = 1/6 of cost price
☆Formula use :-
☆Assuming:-
Let the cost price be x
☆Solution:-
According to question a shopkeeper sells an item for Rs 749 and gain one sixth of cost price .
Now,CP= x ,gain = x/16 and SP= 749
Now,putting the values in the formula, we have
☆Hence :-
Cost price = Rs 642
☆Verification:-
By solving we get CP = Rs 642
Given,Gain =1/6th of CP
Therefore, gain= Rs642/6=Rs107
We know,SP = CP+Gain
Therefore, SP=Rs(642+107)=Rs749,which is equal to the given SP in the question.
Hence proved
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☆Extra information:
- Profit, P = SP – CP; SP>CP
- Loss, L = CP – SP; CP>SP
- P% = (P/CP) x 100
- L% = (L/CP) x 100
- SP = {(100 + P%)/100} x CP
- CP = {100/(100 + P%)} x SP
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hope it helps ...... :)
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