A person sells a book for Rs.11.He gains as many percent as its cost price in rupees.What is the cost price?Rs.10Rs.12Rs.7.50Rs.5.50
Question
A person sells a book for Rs. 11. He gains as many percent as its cost price in rupees. What is the cost price?
- Rs. 10
- Rs. 12
- Rs. 7.50
- Rs. 5.50
Solution
The problem states that the person's gain percentage is equal to the cost price of the book.
Let's denote the cost price as 'x'.
So, according to the problem, the gain is also 'x' percent.
We know that:
Selling Price = Cost Price + Gain
The gain can be calculated as (Gain% of Cost Price) = (x/100)*x
So, the selling price becomes:
Selling Price = x + (x/100)*x
But we know that the selling price is Rs.11.
So, we can set up the equation:
11 = x + (x/100)*x
Solving this quadratic equation will give us the value of 'x', which is the cost price of the book.
The solutions to this equation are x = 10 and x = -110.
Since the cost price cannot be negative, the cost price of the book is Rs.10.
Similar Questions
A merchant marks his goods at Rs. 600 and allows a discount of 25%. If he still gains 11.11%, then the cost price of the article is:
A bookseller sells all his books at a profit of 10%. If he buys a book from the distributor atRs200, how much does he sell it for
What would be the percentage gain if a person bought books at a rate of 5 books for 18 rupees and sold them at a rate of 3 books for 12 rupees?
A shopkeeper gives 25% discount on an article and makes a profit of 10%. If the cost price of the article is Rs 300 then, what is the marked price?
An article costs Rs.600.What should be the marked price of an article so that after 10% discount,the trader makes 20% profit?Rs.800Rs.950Rs.1100Rs.1040
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.