To Find the the Cost Price from Sale Price including profit (WP-2: Profit)

Imran sold a bicycle for Rs.3,978 and got 17% profit. Find the cost price of the bicycle.

Given:

Sale price (S.P) = Rs. 3,978
Profit % = 17%

To Find:

Cost price (C.P)

Solution:

 The Formula for Profit % is

.....Eqn(1)

And Formula for Gain is

Gain = Sale price (S.P) - Cost price (C.P) ....Eqn(2)

From Eqn (1) and (2) we can derive a formula for Cost price (C.P) that is

So by putting values we get

Cost price (C.P) = `\frac{Rs.3978}{(100\%+17\%)}`

Cost price (C.P) = `\frac{Rs.3978}{117\%}`

Cost price (C.P) = `{\frac{Rs. 3978}{117}}` x 100

Cost price (C.P) = Rs. 3,400

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