Question

The purchase price of an article is 500. If a shopkeeper sells it a profit of 15% then.
(i) The selling price of an article
(ii) Total profit on goods​

Answer 1

Given :

• Cost price = 500
• Profit percent = 15%

To find :

• The selling price of an article
• Total profit on goods​

Solution :

⇒ Now, let's find the Selling price of the Article.

⇒ To find the Selling Price, we have to add 100 and profit first. Then, we have to multiply with the Cost Price. At last, we have to divide it by 100.

Selling Price = 100 + Profit %/100} × CP

                     = 100 + 15/100 × 500

                     = 115/100 × 500

                     = 57500/100

                     = 575

Therefore, the Selling Price of the Article is Rs. 575.

⇒ Since we have found the Selling Price of the Article, we can find the Profit easily.

⇒ To find the Profit, we have to subtract the Cost Price and Selling Price.

Profit = Selling Price - Cost Price

         = 575 - 500

         = 75

Therefore, the Profit of the Article is Rs. 75.