A gold necklace was sold for Rs 78200 at a profit of 15 %. Find its cost price?
Given:
Selling price of necklace = ₹ 78200 and Profit % = 15%
To find:
We have to find the value of the Cost price of the necklace.
Solution:
Now, we know that:
$Profit\ \%\ =\ \frac{Selling\ price\ -\ Cost\ price}{Cost\ price} \ \times \ 100$
$15\ =\ \frac{78200\ -\ CP}{CP} \ \times \ 100$
$15CP\ =\ (78200\ -\ CP)\ \times \ 100$
$15CP\ =\ 7820000\ -\ 100CP$
$15CP\ +\ 100CP\ =\ 7820000$
$115CP\ =\ 7820000$
$CP\ =\ \frac{7820000}{115}$
$\mathbf{CP\ =\ 68000}$
So, the Cost price of the necklace is ₹68000.
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