Finding Cost Price
Finding Cost Price
To Find Cost Price when Profit/Loss percent is given: The procedure to find the cost price when profit/loss % is given is as follows:
Step I: We will assume the Cost Price to be x.
Step II: Then we find the Profit/Loss on the cost price
Strep III: We will equate the equation with the given Selling Price.
Step IV: We will solve for x.
Selling Price = Cost Price + Profit
Selling Price = Cost Price- Loss
Illustration 1: Mrs Rohana sold a dress for Rs 495 thus making a profit of 10%. Find the cost price of the dress and the profit ?
Solution: Let the Cost Price of the dress = x Rs.
Profit % = 10%
Profit = 10 % of x
Selling Price = Cost Price + Profit
4950 = 11x
x = Rs. 450
Hence, Cost price = Rs 450
Now, as we know that
Profit = Selling Price - Cost Price
Profit = 495 - 450
= Rs 45
Illustration 2: A man purchases two fans for Rs 2160. By selling one fan at a profit of 15 % and the other at a loss of 9 % he neither gains nor loses in the whole transaction. Find the cost price of each fan.
Solution: Let the C.P. of the first fant be Rs x. Then,
C.P. of the second fan = Rs(2160 - x)
As it is given that in the whole transaction, the man neither gains nor loses.
Gain on the sale of first fan = Loss in the sale of second fan
Dividing both sides by 3
So, C.P. of first fan = Rs 810
C.P. of second fan = Rs(2160 - x) = Rs (2160 - 810)
= Rs 1350
_____________ is the price at which the article is purchased. | |||
| Right Option : B | |||
| View Explanation | |||
An article was sold for Rs. 150 with a profit of 18%. Find the cost price | |||
| Right Option : A | |||
| View Explanation | |||
A man sold an almirah for Rs.495 and gained 10% on it . Find its cost price | |||
| Right Option : A | |||
| View Explanation | |||
Students / Parents Reviews [20]
We started with lot of hope that Abhyas will help in better understnding of complex topics of highers classes. we are not disappointed with the progress our child has made after attending Abhyas. Though need to mention that we expected a lot more. On a scale of 1-10, we would give may be 7.
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