Question

When Suraj sold his house for Rs 92,000, he made a profit of 15%. What was its cost price?

Answer 1

Cost price of house = C.P = Rs x (say)
Selling price of house = S.P = Rs 92,000
Profit % = 15%
Profit = S.P − C.P
= Rs (92000 − x)
Profit % =$\frac{\mathrm{Profit}}{\mathrm{C}.\mathrm{P}}\times 100$

$$\begin{gathered} \Rightarrow 15=\frac{92000-x}{x}\times 100 \\ \Rightarrow 15x=\left(92000-x\right)\times 100 \\ \Rightarrow 15x=9200000-100x \\ \Rightarrow 15x+100x=9200000 \\ \Rightarrow 115x=9200000 \\ \Rightarrow x=\frac{9200000}{115} \\ \Rightarrow x=80000 \end{gathered}$$

∴ Cost price of house is Rs 80,000.