Question

A dealer sold a camera for 20% profit on the selling price. Find the selling price if the cost price is Rs. 28,800.
1. Rs. 18,000
2. Rs. 36,000
3. Rs. 54,000
4. Rs. 72,000

Answer 1

Correct Answer - Option 2 : Rs. 36,000

Given:

Profit% = 20% on selling price

Cost price = Rs. 28,800

Formula used:

Selling price = Cost price × (Assumed selling price/Assumed cost price)

Calculation:

Lat assume that selling price be Rs. 100

Profit% = 20% on selling price

Profit = 20% of Rs. 100

⇒ Rs. 20

Cost price = Rs. (100 – 20) = Rs. 80

Selling price = Rs. 28,800 × (100/80)

⇒ Rs. 36,000

∴ The selling price is Rs. 36,000

Answer 2

20% = 1/5

As the profit is calculated on the Selling Price

∴ Selling Price = 5 units, Profit = 1 unit and CP = 4 units

CP = 4 units = 28800 (Given)

1 unit = 7200

5 units = 7200 × 5 = 36000

∴ The selling price is Rs. 36,000.