Question

Q10) A book was sold for Rs. 550 with a profit of 10%. What was its cost price? *​

Answer 1

CP = Rs 500

Explanation:

Given that,

Selling price of a book, SP = Rs 550

Profit percent = 10%

We need to find the cost price of the book. The formula for profit percent is given by :

`P\%=(SP-CP)/(CP)* 100\\\\(10)/(100)=(550-CP)/(CP)* 100\\\\(1)/(10)=(550-CP)/(CP)\\\\CP=5500-10CP\\\\CP+10CP=5500\\\\11CP=5500\\\\CP=500`

So, the cost price of the book is Rs 500.