Question

The manufacturer made a profit of 60% when he sold 250 plates for $10 each.
Calculate his cost price of manufacturing each plate​

Answer 1

Answer:

• Cost price of manufacturing each plate is $6.25.

Step-by-step explanation:

Given that:

• A manufacturer made a profit of 60% when hr sold 250 plates for $10 each plate.

To Find:

• Cost Price of manufacturing each plate.

Formulas Used:

$\sf{CP =\dfrac{100}{(100+Profit\%)}\times SP}$

Where,

• CP = Cost Price
• SP = Selling Price

Solution:

Selling price of each plate = $10

Number of plates sold = 250

Total Selling Price = $(10 × 250) = $2500

As we know that:

$\sf{CP =\dfrac{100}{(100+Profit\%)}\times SP}$

Substituting the values,

$\sf{CP =\dfrac{100}{(100+60)}\times 2500}$

Adding the numbers in denominator,

$\sf{CP =\dfrac{100}{160}\times 2500}$

Cutting off the zeros,

$\sf{CP =\dfrac{10\!\!\!\not{0}}{16\!\!\!\not{0}}\times 2500}$

$\sf{CP =\dfrac{10}{16}\times 2500}$

Multiplying the numbers,

$\sf{CP =\dfrac{25000}{16}}$

Dividing the numbers,

$\sf{CP =1562.5}$

Hence,

• CP of 250 plates = $1562.5

Therefore,

$\sf{CP\;of\;each\;plate=\ \left(\dfrac{1562.5}{250}\right)}\\\\=\sf{\ 6.25}$

Hence, Cost Price of each plate is $6.25.