Question
2. The profit on a cup is \( 35 \% \) of the cost price. If the profit is PKR 280 , find \( \begin{array}{ll}\text { (i) the cost price, } & \text { (ii) the selling price, } \\ \text { of the cup. } & \end{array} \)
Ask by Gibbs Page. in the United States
Feb 16,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
The cost price is PKR 800 and the selling price is PKR 1080.
Solution
Let the cost price (CP) of the cup be X. We are told that the profit is 35% of the cost price, so we have:
Profit = 0.35 × X
Given that the profit is PKR 280, we can write:
0.35 × X = 280
Now solve for X:
X = 280 / 0.35
X = 800
Thus, the cost price is PKR 800.
The selling price (SP) is given by:
SP = CP + Profit
SP = 800 + 280
SP = 1080
So, the selling price is PKR 1080.
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Simplify this solution Mind Expander
To find the cost price when the profit is \( 35\% \) and the profit amount is PKR 280, we can use the formula for profit: \[ \text{Profit} = \text{Cost Price} \times \text{Profit Percentage} \] Let the cost price be \( CP \). From the information, we know: \[ 280 = CP \times 0.35 \] Solving for \( CP \): \[ CP = \frac{280}{0.35} = 800 \text{ PKR} \] Now, to find the selling price (SP), we use the formula: \[ \text{Selling Price} = \text{Cost Price} + \text{Profit} \] So, \[ SP = 800 + 280 = 1080 \text{ PKR} \] Thus, the cost price is PKR 800 and the selling price is PKR 1080.
