Question

By selling a chair for $Rs.30$, a dealer makes a profit of $25$%. Find what price did the dealer pay for it?

Answer 1

Let the C.P. be $Rs.x$

S.P. $=Rs.30$

Profit $\%=25\%$

Now, according to question-

$x+25\%\text{of}x=30$

$x+\frac{25}{100}x=30$

$\Rightarrow x+\frac{1}{4}x=30$

$\Rightarrow \frac{5}{4}x=30$

$\Rightarrow x=30\times \frac{4}{5}=24$

Hence the dealer paid $Rs.24$ for the chair.