Question

Cost of an item is $Rs.50$. It was sold with a profit of $12\%$. Find the selling price.

Answer 1

Given , CP $=Rs.50$

Profit percentage $=12\%$

$\Rightarrow$ S.P $=(100+12)\%$ of C.P

$\Rightarrow$ S.P$=112\%$ of C.P

$\Rightarrow$ S.P $=\frac{112}{100}\times 50$

$\Rightarrow$ S.P $=\frac{112}{2}=56$

Therefore, the selling price is $Rs.56$