Understanding Cost Price and Selling Price of Items
The cost pric...
Question
The cost price of a pen is ₹20. The shopkeeper sold it to the customer making a profit of ₹5. What is the selling price of the pen?
(2 marks)
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Solution
CP = ₹20
Profit = ₹5 (0.5 marks)
Now,
Profit = SP - CP (0.5 marks)
Now, let the selling price of the pen be ₹y
So, 5 = y -20
y = 5 + 20
y = 25
So, the selling price of the pen is ₹25 (1 mark)