Question

Find the cost price if $\mathrm{SP}=₹1,680$ and $\mathrm{profit}=12\%$

Answer 1

Find the cost price

Given, $\mathrm{SP}=₹1,680$ and $\mathrm{profit}\%=12\%$

Let cost price be $\mathrm{CP}$, then

$$\begin{gathered} \mathrm{CP}=100\times \frac{\mathrm{SP}}{100+\mathrm{profit}\%} \\ \Rightarrow \mathrm{CP}=100\times \frac{1680}{100+12} \\ \Rightarrow \mathrm{CP}=₹1500 \end{gathered}$$

Therefore, the cost price is $₹1,500$.