Calculate Cost Price from Selling Price & Profit
This solution explains how to find the original cost price (CP) when the selling price (SP) and the profit percentage are known.
Identify Given Information
- Selling Price (SP) = ₹390
- Gain Percentage = 20%
Relevant Formula
The relationship between Selling Price (SP), Cost Price (CP), and Gain Percentage is given by the formula:
$ SP = CP \times \left(1 + \frac{Gain\%}{100}\right) $
Calculate Cost Price (CP)
To find the Cost Price, rearrange the formula:
$ CP = \frac{SP}{\left(1 + \frac{Gain\%}{100}\right)} $
Now, substitute the given values:
- $ CP = \frac{390}{\left(1 + \frac{20}{100}\right)} $
- $ CP = \frac{390}{\left(1 + 0.20\right)} $
- $ CP = \frac{390}{1.20} $
- $ CP = 325 $
Conclusion
Therefore, the Cost Price (CP) of the articles is ₹325.
Similar Questions
- Big Mart is offering $5\%$ discount on card payment. How much percentage above cost price should the marked price be so as to make a profit of $10\%$?
- If a shopkeeper added $20\%$ on the cost price as marked price and gave $20\%$ discount, then how much was his profit or loss percent?
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Important Questions from Profit and Loss
Rohit buys 8 pens and 4 pencils for Rs. 2400. He sells pencils at a profit of 20 percent and pens at the loss of 10 percent. If his overall profit is Rs. 240, then what is the sum of the cost price of one pen and one pencil?
An article was sold at a loss of 24%. If it were sold for Rs. 1,596 more, then there would have been a gain of 18%, The cost price of the article is:
The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?
If the selling price of 7 articles is equal to the cost price of 6 articles, then what is the percentage loss?
An article when sold at a gain of 5%, yields Rs. 15 more than when sold at a loss of 5%. The cost price will be
