Question

A shopkeeper gained a profit of 12% by selling an article for birr 560. what was the cost price? ​

Answer 1

The cost price was 500.

Explanation:

Let x be the original price.

`x*(1+12\%)=560`

`x*(1+0.12)=560`

`1.12x=560`

`1.12x/1.12=560/1.12`

`x=500`

Answer 2

500

Solution,

`profit \: percent = 12 \\ selling \: price = 560 \\ cost \: price \\ = (sp * 100)/(100 + profit \: percnt) \\ = (560 * 100)/(100 + 12) \\ = (56000)/(112) \\ = 500`

hope this helps...

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