Question

The labeled price of a machine is Rs. 6500. The shopkeeper sold it by giving a 5% discount on the labeled price and earned a profit of 15%. What approximately is the cost price of the machine?

a. Rs. 5200
b. Rs. 5600
c. Rs. 5900
d. Rs. 6000

Answer 1

The approximate cost price of the machine is Rs. 5373.91.

Step-by-step explanation:

To find the cost price of the machine, we need to consider the selling price after the discount and the profit earned by the shopkeeper.

Let's start by calculating the selling price after the 5% discount. 5% of Rs. 6500 is Rs. 325. So, the selling price after the discount would be Rs. 6500 - Rs. 325 = Rs. 6175.

Next, to calculate the cost price, we need to consider the profit earned. The profit earned is 15% of the cost price. So, 15% of the cost price would be Rs. 6175. To find the cost price, we can write the equation

Cost Price + 15% of Cost Price = Selling Price

Let's solve this equation:

Cost Price + 0.15 * Cost Price = 6175

1.15 * Cost Price = 6175

Cost Price = 6175 / 1.15 ≈ Rs. 5373.91

Therefore, the approximate cost price of the machine is Rs. 5373.91.