Question 116
If a seller earns a profit of 30% by selling a product on a selling price of Rs. 1200. What will be the cost price of the product?
Solution
As we know that selling price of the product is Rs. 1200
Let’s say cost price of the product is x
Now after making a profit of 30%, selling price will be = $$x \times 1.3$$ = 1.3x
So 1.3x = 1200
x= $$\frac{1200}{1.3}$$ = 923
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