Question

Selling price of a toy car is ₹ 650. If the profit made by shopkeeper is 30%, what is the cost price of this toy?

Answer 1

Given that

Selling Price = ₹540

Profit = 20 %

Cost Price = Selling Price × 100/100 + Profit %

= 540 × 100/100 + 20

= 54000/120

= ₹450.

Answer 2

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We know,

Profit = SP - CP

Profit = Rs 30

30 = 650 − CP

CP = 650 - 30

CP = Rs 620. (Answer).