Question

Selling price of a toy is Rs 560. If the profit made by shopkeeper is 20 % , what is the cost price of this toy?

Answer 1

Answer:

₹450

Step-by-step explanation:

Given that

Selling Price = ₹540

Profit = 20 %

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

= 540 × 100/100 + 20

= 54000/120

= ₹450.

Answer 2

The cost price of the toy is Rs. 466.67.

------------------------------------------------------------------------------------------------------

Let's understand a few concepts:

What is the cost price?

The cost price is the original price of items or goods at which it is bought by the retailer.  

What is the selling price?  

The selling price is the price of items or goods at which it is sold to the customer.  

What is profit?

A profit usually occurs in the transaction when the selling price of the item is more than the cost price of the item.

What is loss?

A loss usually occurs in the transaction when the cost price of the item is more than the selling price of the item.  

How to calculate the cost price?

The cost price can be found by using the following formula:

$\boxed{\bold{C.P. = \bigg[\frac{100}{100 + G\%} \bigg]\times S.P.}}$

 

 -----------------------------------------------------------------------------------

Let's now solve the given problem:

The S.P. of the toy = Rs. 560

The profit percentage made by the shopkeeper = 20%

Therefore,

The C.P. of the toy is,

= $\bigg[\frac{100}{100 + 20} \bigg]\times 560$

= $\bigg[\frac{100}{1 20} \bigg]\times 560$

= $\frac{5}{6} \times 560$

= $\bold{Rs.\:466.67}$

 

Thus, the cost price of this toy is Rs. 466.67.

---------------------------------------------------------------------------------------------

Learn more about C.P., S.P., loss and gain here:  

brainly.in/question/36717281  

brainly.in/question/33920758