Question

A man sells a saree for Rs. $2100$ and makes a profit of $16\frac{2}{3}\%$. Find the cost price of the saree.

Answer 1

Given $\text{Profit in}\%=16\frac{2}{3}$ and selling price $S.P=Rs.2100$
We know that, Cost price$=S.P\times \frac{100}{(100+\text{profit}\%)}$
$=S.P\times \frac{100}{(100+\frac{50}{3})}$
$=2100\times \frac{100}{\left(\frac{300+50}{3}\right)}$
$=2100\times \frac{300}{350}$
$=2100\times \frac{6}{7}$
$=300\times 6$
Therefore, cost price $=Rs.1800$