Question

If an item is sold for $Rs924$ then there is a profit $10\%$. What is the cost price?

• A. $Rs840$
• B. $Rs860$
• C. $Rs880$
• D. $Rs900$

Answer 1

The correct option is A $Rs840$

We have,

Selling price$S.P.=Rs.924$

Gain %$=10$

Now, using formula,

$S.P=\frac{(100+gain\%)}{100}\times C.P.$

$924=\frac{(100+10)}{100}\times C.P.$

$C.P.=\frac{924\times 10}{11}$

$C.P.=\frac{9240}{11}$

$C.P.=Rs.840$

Hence, this is the answer.