A shopkeeper sold A dressing table for ₹7512.75 at a profit of $\frac{77}{4}$%. What was the cost price?

Given:  A shopkeeper sold a dressing table for ₹7512.75 at a profit of $\frac{77}{4}$%.

To do: What was the cost price.

Solution:

Profit Percent Formula =$\frac{Profit \times 100}{CP}$

So, $\frac{77}{4} = \frac{[SP-CP] \times 100}{CP}$

$\frac{77}{4} = \frac{[SP-CP] \times 100}{CP}$

The given SP is Rs 7512.75. 

Now,  $\frac{77}{4} = \frac{[7512.75-CP] \times 100}{CP}$

$CP = 4\frac{751275-100CP}{77}$

$77\times CP = 30050300 -400CP$

$77 CP +400CP = 30050300$

$477CP = 30050300$

$CP= \frac{30050300}{477}$

$CP= 62998.53$

Therefore , the CP is $62998.53$

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Updated on: 10-Oct-2022

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