Question

The cost price of a college bag is 240% more than the profit obtained on it selling at Rs. 1540. What is the cost price of that college bag?

Answer 1

Let the profit be 'x'

Then the C.P of the bag = $\frac{340x}{100}=3.4x$

$\therefore C.P+profit=S.P$

$3.4x+x=1540$

$x=\frac{1540}{4.4}=350$

$\Rightarrow 3.4x=3.4\times 350=Rs1190$

C.P of the college bag = Rs 1190