Question

Selling price of a toy car is Rs 540. If the profit made by the shopkeeper is 20%, what is the cost of price of the toy?

Please solve this question,i need it very urgently.
Irrelevant answers will be reported.​

Answer 1

Answer:

We know,

Profit = SP - CP

Selling Price, S.P. = Rs. 540

Profit% = 20%

Formula Used :

Profit% = [(S.P. - C.P.)/C.P.] × 100

C.P. = cost price

S.P. = selling price

Calculation :

\(\frac{{540 - C.P.}}{{C.P.}} × 100 = 20\)

⇒ (540 - C.P.) × 5 = C.P.

⇒ C.P. = 2700 - 5C.P.

⇒ 6C.P. = 2700

⇒ C.P. = 2700/6

∴ Cost price is Rs. 450

Answer 2

Answer:

Given:- Selling price = 540

profit = 20%

let the cost price = x

→ x+20% of x = 540

$x + \frac{20}{100} \times x = 540$

$\frac{5x + x}{5} = 540$

$6x = 540 \times 5$

$x = \frac{540 \times 5}{6}$

$x = 90 \times 5$

$x = 450$

Hence, cost of price of toy = 450