Question
When an item is sold for ₹3,510, it earns 17% profit on the cost price. The cost price is ______.
The correct answer is
₹3,000
Let the cost price be x. Then, selling price = x + 17% of x = 1.17x. We are given that the selling price is ₹3,510, so:
1.17x = 3,510, thus x = 3,510 / 1.17 = ₹3,000.
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Important Questions from Profit and Loss
- Veer bought some sharpeners at the rate of ₹180/dozen. He sold them for ₹23 each. His profit percentage is ____ % (rounded off to two decimal places).
- A shopkeeper lists the price of a fan at 60% above its cost price and offers a 15% discount on its list price. If he earns a profit of ₹117, then what is the list price (in ₹) of the fan?
- The marked price of an article is ₹800. It is sold at two successive discounts of 24% and 15%, respectively. Find the selling price of the article.
- A discount of 13% on the marked price of an article is allowed and then the article is sold for ₹348. The marked price of the article is:
- A trader claims to sell grains at a profit of 29%, but also dishonestly uses a weight which is 13% less than what is mentioned on it. Find the total percentage of profit earned by the trader. (Round off the answer to the nearest whole number.)
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