PROFIT AND LOSS K5

 

A man got a profit of 7400/= after selling an item. Find the buying price if the percentage profit was 10%.

 

Solution

 

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

                         B.P

 

10% = 7400   X  100   

            B.P.

 

B.P. x 10% = 740,000   x B.P.  [multiplying by B.P. both sides]

                       B.P.

 

 

B.P. x 10 = 740,000   

 

        

B.P. x 10¹ =   740,000   

  ₁10                   10

 

B.P. =74,000

                      

Hence Buying Price was 74,000/=

 

TRY THIS………………

 

A man got a profit of 90,500/= after selling an item. Find the buying price if the percentage profit was 20%.