Question

Sheela takes a profit of 3% on selling her tyrefor Rs.300. Find the cost in which she bought it?

Answer 1

Answer:

the answer is Rs 291.26

Explanation:

Sheela takes a profit of 3% on selling tyre for Rs 300

therefore, according to the question

Selling price (SP) of tyre is Rs 300

profit earned is 3%

Let the cost price (CP) be x

Now,

$profit = SP - CP$

profit% =

$\frac{profit}{ CP} \times 100$

now putting on the values we get,

$profit = SP - CP \\ = 300 - x$

profit% =

$\frac{profit}{ CP} \times 100 \\ 3 = \frac{300 - x}{x} \times 100 \\ 3x = (300 - x) \times 100 \\ 3x = 30000 - 100x \\ 3x + 100x = 30000 \\ 103x = 30000 \\ x = \frac{30000}{103} \\x = 291.26$

therefore the cost price of the tyre is Rs 291.26