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Question
A man sold a radio-set for Rs.250 and gained one-ninth of its cost price. Find ;
(i) its cost price;
(ii) the profit percent.
Solution
(i) Let C.P. of the radio-set = Rs.x
Gain = Rs.`"x"/9`
S.P. = Rs.`("x"+"x"/9)=((9"x"+"x")/9)"Rs." = "Rs."(10"x")/9`
But, we are given S.P. of the radio-set = Rs.250
`∴(10"x")/9=250`
`⇒"x"=250xx9/10⇒"x"=25xx9⇒"x"=225`
∴ C.P. of the radio set = Rs.225
(ii) Profit = Rs.`"x"/9`
= Rs.`225/9` ......(Substituting the value of x)
= Rs.25
Profit% =`"Profit"/"C.P."xx100`
`=25/225xx100=(25xx100)/225=100/9%`
`=11 1/9%`
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