Class 7 Exam > Class 7 Questions > An article is sold for rupees 250 with the pr...
Start Learning for Free
An article is sold for rupees 250 with the profit of 5% what was its cost price?
Most Upvoted Answer
An article is sold for rupees 250 with the profit of 5% what was its c...
Understanding the Problem
To find the cost price (CP) of an article sold for ₹250 with a profit of 5%, we need to break down the components involved in the calculation.
Key Concepts
- Selling Price (SP): The price at which the article is sold, which is ₹250.
- Profit Percentage: The percentage gain on the cost price, which is 5%.
Calculating Cost Price
1. Formula for Selling Price:
SP = CP + Profit
Since profit can be expressed in terms of CP and profit percentage, we can rewrite the formula as:
SP = CP + (Profit Percentage * CP)
2. Rearranging the Formula:
We can factor out CP from the right side:
SP = CP * (1 + Profit Percentage)
3. Substituting the Values:
Here, the Profit Percentage as a decimal is 5% = 0.05.
Therefore, we have:
SP = CP * (1 + 0.05)
SP = CP * 1.05
4. Calculating CP:
Now, substituting the Selling Price (SP) into the equation:
250 = CP * 1.05
5. Final Calculation:
To find CP, divide both sides by 1.05:
CP = 250 / 1.05
CP ≈ ₹238.10
Conclusion
The cost price of the article is approximately ₹238.10. This calculation demonstrates how profit percentage affects the selling price and allows for the determination of the original cost.
To find the cost price (CP) of an article sold for ₹250 with a profit of 5%, we need to break down the components involved in the calculation.
Key Concepts
- Selling Price (SP): The price at which the article is sold, which is ₹250.
- Profit Percentage: The percentage gain on the cost price, which is 5%.
Calculating Cost Price
1. Formula for Selling Price:
SP = CP + Profit
Since profit can be expressed in terms of CP and profit percentage, we can rewrite the formula as:
SP = CP + (Profit Percentage * CP)
2. Rearranging the Formula:
We can factor out CP from the right side:
SP = CP * (1 + Profit Percentage)
3. Substituting the Values:
Here, the Profit Percentage as a decimal is 5% = 0.05.
Therefore, we have:
SP = CP * (1 + 0.05)
SP = CP * 1.05
4. Calculating CP:
Now, substituting the Selling Price (SP) into the equation:
250 = CP * 1.05
5. Final Calculation:
To find CP, divide both sides by 1.05:
CP = 250 / 1.05
CP ≈ ₹238.10
Conclusion
The cost price of the article is approximately ₹238.10. This calculation demonstrates how profit percentage affects the selling price and allows for the determination of the original cost.
Attention Class 7 Students!
To make sure you are not studying endlessly, EduRev has designed Class 7 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 7.
|
Explore Courses for Class 7 exam
|
|
Similar Class 7 Doubts
Top Courses for Class 7View all
An article is sold for rupees 250 with the profit of 5% what was its cost price?
Question Description
An article is sold for rupees 250 with the profit of 5% what was its cost price? 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 An article is sold for rupees 250 with the profit of 5% what was its cost price? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An article is sold for rupees 250 with the profit of 5% what was its cost price?.
An article is sold for rupees 250 with the profit of 5% what was its cost price? 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 An article is sold for rupees 250 with the profit of 5% what was its cost price? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An article is sold for rupees 250 with the profit of 5% what was its cost price?.
Solutions for An article is sold for rupees 250 with the profit of 5% what was its cost price? in English & in Hindi are available as part of our courses for Class 7.
Download more important topics, notes, lectures and mock test series for Class 7 Exam by signing up for free.
Here you can find the meaning of An article is sold for rupees 250 with the profit of 5% what was its cost price? defined & explained in the simplest way possible. Besides giving the explanation of
An article is sold for rupees 250 with the profit of 5% what was its cost price?, a detailed solution for An article is sold for rupees 250 with the profit of 5% what was its cost price? has been provided alongside types of An article is sold for rupees 250 with the profit of 5% what was its cost price? theory, EduRev gives you an
ample number of questions to practice An article is sold for rupees 250 with the profit of 5% what was its cost price? tests, examples and also practice Class 7 tests.
|
|
Explore Courses for Class 7 exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup