PERCENTAGE PROFIT 1

A man got a profit of 3000/= after selling an item. Find the buying price if the percentage profit was 3%.

Solution

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

                         B.P

3% = 3000   X  100   

          B.P.

B.P. x 3 = 300,000 x B.P¹   

                      B.P ₁

3B.P  = 300,000     [after multiplying by B.P. both sides]

        

B.P. x 3¹ =   300,000   

  ₁3                   3

B.P. = 100,000

                      

Hence Buying Price was 100,000/=

TRY THIS………………..

A man got a profit of 600/= after selling an item. Find the buying price if the percentage profit was 3%.