Question

By selling a radio for Rs.$903$, a shop keeper gains $5$%. Find the cost price of the radio.

Answer 1

Selling Price$=Rs.903$

Profit $=5\%$

Percentage Profit $=\left(\frac{Profit}{C.P.}\right)\times 100$

$\Rightarrow \frac{PercentageProfit}{100}=\frac{(S.P–C.P)}{C.P}$

$\Rightarrow \frac{5}{100}=\frac{S.P}{C.P}-1$

$\Rightarrow \frac{903}{C.P}=\frac{105}{100}$

$C.P=100\times \frac{903}{105}=860$

Hence, the cost price of the radio is $Rs.860$.