The selling price of a pen is Rs.34.50. If the profit percent is numerically half of it's cost price then find it's cost price.
A. Rs. 20
B. Rs. 30
C. Rs. 15
D. Rs. 40
Answer: Option B
Solution(By Examveda Team)
Best to go through Option checking,20 and 15 cannot be the correct answer. You can visualize it as 10% of 20 is 2. SP is not matching.
Now, taking 40. It is also not possible because there is given profit percent. If CP is 40 then SP cannot be lower than 40 to get profit.
So, the correct answer would be 30.
30 + 15% of 30 = 34.5.
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From the formula,
SP=CP(1+P/100) ,where SP=selling price, CP=cost price and P=profit percentage
34.50=CP(1+CP/200) ,P=CP/2
69/2=CP+CP*CP/200
CP*CP/200+CP-69/2=0
CP*CP+200CP-6900=0 ,multiplying both sides by by 200
CP*CP+230CP-30CP-6900=0
CP(CP+230)-30(CP+230)=0
(CP+230)(CP-30)=0
Either CP= -230, which cannot be possible
or CP=30
SO Cost Price=CP= Rs 30