An article was sold for Rs. 250 with a profit of $ 5 \% $. What was its cost price?

Given:

Selling price of the article$=Rs. 250$.

Profit percentage $=5$%.

To do:

We have to find the cost price.

Solution:

Let the cost price of the article be $x$.

$Profit percent = \frac{SP-CP}{CP}\times100$

$5=\frac{250-x}{x}\times100$

$5x=(250-x)100$

$x=(250-x)20$

$x=250(20)-20x$

$x+20x=5000$

$21x=5000$

$x=\frac{5000}{21}$

$x=238$

Therefore, cost price of the article is Rs. 238.

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Updated on: 10-Oct-2022

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