PERCENTAGE PROFIT - 3

A man got a profit of 800/= after selling an item. Find the buying price if the percentage profit was 5%.

Solution

%’ge profit = Profit   X  100    where B. P. represents Buying Price.

                         B.P

5% = 800   X  100   

          B.P.

B.P. x 5 = 80,000   

        

B.P. x 5¹ =   80,000   

  ₁5                   5

B.P. = 16,000

                      

Hence Buying Price was 16,000/=

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A man got a profit of 1000/= after selling an item. Find the buying price if the percentage profit was 10%.