An item is sold for Rs.7130 making a 15% profit. What is the cost price (in Rs) of this item?Options6000612562506200

Question

An item is sold for Rs.7130 making a 15% profit. What is the cost price (in Rs) of this item?Options6000612562506200
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Solution 1

The cost price of the item can be calculated using the formula:

Cost Price = Selling Price / (1 + Profit%)

Here, the selling price is Rs. 7130 and the profit is 15%.

So, the cost price = 7130 / (1 + 15/100) = 7130 / 1.15 = Rs. 6200

So, the cost price of the item is Rs. 6200. Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI St

PT 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 solve study problem.

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