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If the MP of an item is 10 % above the CP .Find the SP of the item if the dealer wants to earn a profit of 4% on the item marked at RS 5500?
Most Upvoted Answer
If the MP of an item is 10 % above the CP .Find the SP of the item if ...
Given:
- MP (Marked Price) of an item is 10% above the CP (Cost Price).
- The dealer wants to earn a profit of 4% on the item marked at RS 5500.
Solution:
First, let's calculate the Cost Price (CP) of the item:
Given that the Marked Price (MP) is 10% above the CP, we can write the equation as:
MP = CP + (10% of CP)
MP = CP + 0.1CP
MP = 1.1CP
We are also given that the dealer wants to earn a profit of 4% on the marked price.
Let's calculate the Selling Price (SP) using the formula:
SP = MP + (Profit % of MP)
SP = 1.04MP
We know that MP = RS 5500 (as given in the question), so let's substitute this value into the equation:
SP = 1.04 * 5500
Now, let's calculate the values step by step:
1. Calculate the Cost Price (CP):
CP = MP - (10% of MP)
CP = 5500 - (0.1 * 5500)
CP = 5500 - 550
CP = 4950
Therefore, the Cost Price (CP) of the item is RS 4950.
2. Calculate the Selling Price (SP):
SP = 1.04 * MP
SP = 1.04 * 5500
SP = 5720
Therefore, the Selling Price (SP) of the item is RS 5720.
Answer:
The Selling Price (SP) of the item, if the dealer wants to earn a profit of 4% on the item marked at RS 5500, is RS 5720.
Community Answer
If the MP of an item is 10 % above the CP .Find the SP of the item if ...
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If the MP of an item is 10 % above the CP .Find the SP of the item if the dealer wants to earn a profit of 4% on the item marked at RS 5500?
Question Description
If the MP of an item is 10 % above the CP .Find the SP of the item if the dealer wants to earn a profit of 4% on the item marked at RS 5500? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about If the MP of an item is 10 % above the CP .Find the SP of the item if the dealer wants to earn a profit of 4% on the item marked at RS 5500? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the MP of an item is 10 % above the CP .Find the SP of the item if the dealer wants to earn a profit of 4% on the item marked at RS 5500?.
If the MP of an item is 10 % above the CP .Find the SP of the item if the dealer wants to earn a profit of 4% on the item marked at RS 5500? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about If the MP of an item is 10 % above the CP .Find the SP of the item if the dealer wants to earn a profit of 4% on the item marked at RS 5500? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the MP of an item is 10 % above the CP .Find the SP of the item if the dealer wants to earn a profit of 4% on the item marked at RS 5500?.
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