Question

Rasmika has sold her bag for ₹ 650 and made a profit of 30%. What is the cost price of the bag?

• A. ₹ 400
• B. ₹ 500
• C. ₹ 600
• D. ₹ 550

Answer 1

The correct option is B ₹ 500

Let the cost of the bag be ₹ $x$. Rasmika made a profit of 30%.

So, the profit is 30% of '$x$' $=x\times \frac{30}{100}=\frac{3x}{10}$

Profit $=$ Selling price $-$ Cost price

Therefore,
$\Rightarrow \frac{3x}{10}=650-x$

Transposing $x$ to LHS, we get
$\Rightarrow x+\frac{3x}{10}=650\Rightarrow \frac{10x+3x}{10}=650\Rightarrow \frac{13x}{10}=650$

Multiplying both sides by $10$, we get
$\Rightarrow \frac{13x}{10}\times 10=650\times 10\Rightarrow 13x=6500$

Transposing 13 to the RHS, we have
$\Rightarrow x=\frac{6500}{13}\Rightarrow x=500$

Hence, the cost price of the bag is ₹ 500.