Question

Selling price of a toy car Rs540 if the profit made by shop keeper is 20%what is the cost price of this toy

Answer 1

Answer:

Given:  Selling price of toy car = Rs. 540

            Profit percent = 20%

To find : cost price of toy

Let the cost price of the toy be Rs. x.

Since the shopkeeper made a profit. Then,

Profit = Selling Price - Cost price

Substitute the values,

Profit = 540 - x

The formula of profit percent is given by,

Profit  % =   $\frac{profit }{cost price } \times 100$

Substitute the values in the above formula,

⇒ 20 =   $(\frac{540 - x}{x})\times 100$    

Cross multiply the terms,

⇒  20x = 54000 − 100x

⇒ 120x = 54000

Divide both sides by 120,

⇒ x = 450

Hence, the cost price of the car is Rs. 450.

Answer 2

Given: The selling price of a toy car Rs.$540$ and profit$=20$%

We have to find the cost price of this toy.

We are using the profit percent formula, $\text { Profit } \%=\frac{\text { Profit }}{\text { Cost Price }} \times 100$

Here, The cost price of the toy =?

therefore, let assume the cost price of toy =$x$

Since the shopkeeper made a profit. Then,

Profit = Selling Price - Cost price

profit = 540-$x$

Now, Substitute the values in the profit percent formula,

We get,

$\text { Profit } \%=\frac{\text { Profit }}{\text { Cost Price }} \times 100$

$\Rightarrow 20=\frac{540-x}{x} \times 100\\\\\Rightarrow 20 x=54000-100 x\\\\\Rightarrow 120 x=54000\\\\\Rightarrow x=450$

Hence, the cost price of the car is Rs. $450.$