Question

An article was sold for $Rs210$ with a profit of $5\%$, what was its cost price?

Answer 1

S.P. of chain = $Rs210$

Profit = $5\%$

⇒ Let the C.P. be $xRs$

We know that,

$$\begin{gathered} Profit=\frac{profit\%\times C.P.}{100} \\ =\frac{5\times x}{100} \\ =\frac{x}{20} \end{gathered}$$

Now,

$$\begin{gathered} S.P.=Profit+C.P \\ 210=\frac{x}{20}+x \\ 210=\frac{21x}{20} \\ x=\frac{210\times 20}{21} \\ x=200Rs \end{gathered}$$

Therefore, cost price is $Rs200$.