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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