Question

When an article is sold at a profit of 5%the profit is rs 15 What is the cost price?​

Answer 1

Step-by-step explanation:

Given :-

An article is sold at a profit of 5% then the profit is Rs. 15

To find :-

The Cost Price of the article.

Solution :-

Let the Cost Price of the article be Rs. X

Profit percentage on it = 5%

=> Profit = 5% of X

=> Profit = 5% × X

=> Profit = (5/100)×X

=> Profit = (1/20)×X

=> Profit = Rs. X/20

According to the given problem

Profit = Rs. 15

=> X/20 = 15

=> X = 15×20

=> X = 300

Therefore, The cost price = Rs. 300

Answer :-

The Cost Price of the article is Rs. 300

Check :-

The Cost Price of the article = Rs. 300

Profit on it = Rs. 15

We know that

Profit % = (Profit/Cost Price)×100

=> P% = (15/300)×100

=> P% = (1/20)×100

=> P% = 100/20

=> P% = 5%

Verified the given relations in the given problem.

Used formulae:-

→ Profit % = (Profit/Cost Price)×100