Select the correct answerAn item is sold for Rs.7130 making a 15% profit. What is the cost price (in Rs) of this item?Options6125600062506200

Question

Select the correct answerAn item is sold for Rs.7130 making a 15% profit. What is the cost price (in Rs) of this item?Options6125600062506200
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Solution 1

To find the cost price of the item, we need to understand that the selling price is 115% of the cost price because a 15% profit was made.

So, if 115% of the cost price is Rs.7130, we can find 100% (which is the cost price) by setting up the following equation:

115/100 = 7130/cost price

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Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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