Question

If a product is sold on 10% profit and the selling price Rs. 330, then cost price of the product is
1. Rs. 360
2. Rs. 363
3. Rs. 297
4. Rs. 300

Answer 1

Correct Answer - Option 4 : Rs. 300

Given:

Selling price = Rs. 330

Profit = 10%

Concept used:

C.P = S.P × 100/(100 + P%)

Where,

C.P = cost price

S.P = selling price

P% = profit percent

Calculation:

C.P = S.P × 100/(100 + P%)

⇒ 330 × 100/(100 + 10)

⇒ 330 × 100/(110)

⇒ 3 × 100

⇒ Rs 300

∴ The cost price of the product is Rs. 300