Question 119
A shopkeeper sells a product at the rate of Rs.1,710 and earns a profit of 14%. Find the amount which is equal to half of the cost price of the product. (in Rs)
Solution
SELLING PRICE (S.P.) = 1710
C.P. = COST PRICE
PROFIT (P) = 14%
P% = SP-CP/CP * 100
P = S/C - 1
114/100 = S/C
C = 100S/114
C= 100 * 1710/114 = 1500
SO, THE ANSWER = 1500/2 = 750
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