Question

selling price of a toy car is Rs.480 if the profit made by shopkeeper is 20%,then what will be the cost price?

Answer 1

cost price will be. = 390

Answer 2

Given:

The selling price of a toy car is Rs. 480 and the profit made by the shopkeeper is 20%.

To find:

The cost price of the toy car.

Solution:

The selling price of a toy car is Rs.480, if the profit made by the shopkeeper is 20%, then the cost price of the toy car will be Rs.400.

We can solve the above mathematical problem using the following approach.

Let us assume the cost price of the toy car as 'x'.

We know that Profit = Selling Price - Cost price = 480 - x.

The formula of profit percent is:

$Profit\% =\frac{\text { Profit }}{\text {Cost Price }}\times 100\\\\ On substituting the values in this formula, we get:\\\\\rightarrow 20 = \frac{480-x}{x} \times 100\\\\\rightarrow 20x = 48000 - 100x\\\\\rightarrow 120x = 48000\\\\\rightarrow x = \frac{48000}{120} = 400.$

Therefore, the cost price of the toy car is Rs.400.