Question

Selling price of a toy car is $Rs540$. If the profit made by shopkeeper is$20\%$, what is the cost price of this toy?

Answer 1

Find the cost price of this toy:

As it is Given that the Selling price of a toy car is $Rs540$.

S.P = $Rs540$ and profit made by shopkeeper is$20\%$ i.e. Profit Percent =$20\%$

As we know that $Profit=S.P-C.P$

$$\begin{gathered} ProfitPercent=\frac{Profit}{C.P}\times 100 \\ \Rightarrow ProfitPercent=\frac{S.P-C.P}{C.P}\times 100 \\ \Rightarrow 20=\frac{540-C.P}{C.P}\times 100 \\ \Rightarrow \frac{20}{100}\times C.P=540-C.P \\ \Rightarrow \frac{1}{5}C.P+C.P=540 \\ \Rightarrow \frac{C.P+5C.P}{5}=540 \\ \Rightarrow C.P(1+5)=540\times 5 \\ \Rightarrow C.P=\frac{540\times 5}{6} \\ \Rightarrow C.P=450Rs \end{gathered}$$

Hence, the Cost price is $Rs450$.