Question 104
A shopkeeper sells a product at the rate of Rs.1596 and earns a profit of 14%. Find the amount which is equal to half of the cost price of the product.
Solution
Selling price = Rs. 1596 and profit % = 14%
=> Cost price = $$\frac{1596}{(100+14)}\times100$$
= $$14\times100=Rs.$$ $$1400$$
$$\therefore$$ Amount which is equal to half of the cost price of the product = $$\frac{1400}{2}=Rs.$$ $$700$$
=> Ans - (C)
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