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Question
A shop is sold at 30% profit, the amount of brokerage at the rate of `3/4`% amounts to
₹ 73,125. Find cost of the shop
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Solution
It is given that,
Brokerage is ₹ 73,125 and brokerage rate is `3/4`%
Let selling price be x.
Brokerage = Selling price of shop × Brokerage rate
∴ `73,125 = "x" xx 3/4`%
∴ `73,125 = "x" xx 0.75/100` %
∴ x = `(73,125 xx 100)/0.75`
∴ x = 97,50,000
∴ Selling price for the shop is 97,50,000.
It is mentioned that shop is sold at 30% profit.
If purchase price is ₹ 100, then selling price is ₹ 130.
For selling price ₹ 97,50,000, cost price will be 100 → 130
? → 97,50,000
∴ Cost price = `(97,50,000 xx 100)/130` = 75,00,000
∴ Cost of the shop is ₹ 75,00,000.
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