Question

By selling an article for Rs 1,12,000 a girl gains 40%. The cost price of the article was ______.

Answer 1

By selling an article for Rs 1,12,000 a girl gains 40%. The cost price of the article was ₹ 80000.

Explanation:

Selling price of an article = ₹ 112000

Gain% = 40%

Let ₹ x be the cost price of the article.

∴ Cost price = Selling price – Profit % on cost price

∴ Selling price = Cost price + Profit % on cost price

So, `112000 = x + x xx 40/100`

⇒ `112000 = (100x + 40x)/100`

⇒ 112000 × 100 = 140x

⇒ `x = (112000 xx 100)/140`

⇒ `x = (112000 xx 5)/7`

⇒ x = 16000 × 5

⇒ x = ₹ 80000