Question

if selling price of a product is Rs 56 and its profit is equal to cost price, what is cost price ?

Answer 1

Let the CP of the product = Rs. x

SP of the product = Rs. 56

profit = CP = Rs. x

Now, profit = SP - CP

⇒ x = 56 - x

⇒x + x = 56

⇒ 2x = 56 ⇒ x = 56 / 2 = 28

so, CP = Rs. 28