Selling price of a toy car is Rs 540. If the profit made by the shopkeeper is 20%, what is the cost of price of the toy?
Please solve this question,i need it very urgently.
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Selling price of a toy car is Rs 540. If the profit made by the shopkeeper is 20%, what is the cost of price of the toy?
Please solve this question,i need it very urgently.
Irrelevant answers will be reported.
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Answer:
We know,
Profit = SP - CP
Selling Price, S.P. = Rs. 540
Profit% = 20%
Formula Used :
Profit% = [(S.P. - C.P.)/C.P.] × 100
C.P. = cost price
S.P. = selling price
Calculation :
\(\frac{{540 - C.P.}}{{C.P.}} × 100 = 20\)
⇒ (540 - C.P.) × 5 = C.P.
⇒ C.P. = 2700 - 5C.P.
⇒ 6C.P. = 2700
⇒ C.P. = 2700/6
∴ Cost price is Rs. 450
Answer:
Given:- Selling price = 540
profit = 20%
let the cost price = x
→ x+20% of x = 540
Hence, cost of price of toy = 450