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By selling a calculator for Rs. 258, a shopkeeper gains 7.50%. Find the cost price of the calculator for the shopkeeper.
- a)Rs. 200
- b)Rs. 240
- c)Rs. 270
- d)Rs. 300
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
By selling a calculator for Rs. 258, a shopkeeper gains 7.50%. Find th...
Understanding the Problem
To find the cost price of the calculator, we need to work with the selling price and the profit percentage given.
Key Information
- Selling Price (SP) = Rs. 258
- Profit Percentage = 7.50%
Formula for Cost Price
The relationship between Selling Price, Cost Price (CP), and Profit Percentage can be expressed as:
SP = CP + (Profit Percentage * CP)
This can also be rewritten as:
SP = CP * (1 + Profit Percentage)
Since the profit percentage is given in percentage, we first convert it into decimal form:
- Profit Percentage in decimal = 7.50% = 0.075
Thus, the formula becomes:
SP = CP * (1 + 0.075)
SP = CP * 1.075
Calculating the Cost Price
Now, we can rearrange the formula to find the Cost Price:
CP = SP / 1.075
Substituting the selling price:
CP = 258 / 1.075
CP = Rs. 240
Conclusion
The cost price of the calculator for the shopkeeper is Rs. 240, which corresponds to option 'B'.
This calculation shows how profit percentages work with selling prices to determine the original cost price.
To find the cost price of the calculator, we need to work with the selling price and the profit percentage given.
Key Information
- Selling Price (SP) = Rs. 258
- Profit Percentage = 7.50%
Formula for Cost Price
The relationship between Selling Price, Cost Price (CP), and Profit Percentage can be expressed as:
SP = CP + (Profit Percentage * CP)
This can also be rewritten as:
SP = CP * (1 + Profit Percentage)
Since the profit percentage is given in percentage, we first convert it into decimal form:
- Profit Percentage in decimal = 7.50% = 0.075
Thus, the formula becomes:
SP = CP * (1 + 0.075)
SP = CP * 1.075
Calculating the Cost Price
Now, we can rearrange the formula to find the Cost Price:
CP = SP / 1.075
Substituting the selling price:
CP = 258 / 1.075
CP = Rs. 240
Conclusion
The cost price of the calculator for the shopkeeper is Rs. 240, which corresponds to option 'B'.
This calculation shows how profit percentages work with selling prices to determine the original cost price.
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Community Answer
By selling a calculator for Rs. 258, a shopkeeper gains 7.50%. Find th...
Let CP = 100x
SP = 107.50x
Hence, Option B is correct.
SP = 107.50x
Hence, Option B is correct.
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Question Description
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