If Harsh sold a match ticket for Rs.340 at a profit of 25%,at what price did he purchased the ticket?280255300272
Question
If Harsh sold a match ticket for Rs.340 at a profit of 25%, at what price did he purchase the ticket?
Options:
- 280
- 255
- 300
- 272
Solution
To find the cost price of the ticket, we first need to understand that the selling price is made up of the cost price and the profit.
Given: Selling Price (SP) = Rs. 340 Profit Percentage (P%) = 25%
We know that: SP = Cost Price (CP) + Profit
And Profit is calculated as: Profit = (P% * CP) / 100
We can rearrange the formula to find the cost price: CP = SP / (1 + (P% / 100))
Substituting the given values: CP = 340 / (1 + (25 / 100)) CP = 340 / 1.25 CP = Rs. 272
So, Harsh purchased the ticket for Rs. 272.
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