Question

selling price of a toy car is rupees 480 if the profit made by shopkeeper is 20% what is its cost price ​

Answer 1

Answer:

• Cost price = ₹ 400

Step-by-step explanation:

Given :

• Selling price of a toy car is rupees 480

• Profit = 20%

To find :

• Cost price =?

Formula to find the C. P = (100/100+gain%) x S. P

Substituting the values in the above formula, we get :

➟ (100/100+20) x 480

➟ (100/120) x 480

➟ 400

So, the C. P = ₹400

Answer 2

Rs 400

The phrases profit and loss are used to determine whether or not a transaction is profitable. We must first comprehend the terms 'selling price' and 'cost price' before moving on to the profit and loss formula. The cost price of a product is the price at which it is purchased. The selling price of a product is the price at which it is sold. When the selling price is higher than the cost price, the difference represents profit. When the selling price is lower than the cost price, it is referred to as a loss.

The formula to find the cost price when profit percentage is given,

Cost price = $\frac{100* selling price}{100+profit percentage}$

Given,

Selling price = 480

Profit             = 20%

Cost price =$\frac{ 100*480}{100+20}$

                 = $\frac{48000}{120}$

                 = $\frac{4800}{12}$

                 = $\frac{2400}{6}$

                 = 400

Thus, the cost price is Rs 400.