one gets rs.120 more when the profit % on a commodity is increased from 24% to 27% what is its cost price
120=.27C-.24C
120=.03C
C=120/.03
Well, it seems like the commodity went from being a "24% profit" to a "27% profit". So, it must have found a way to "profit" even more. Maybe it hired a professional comedian to boost its sales! But anyway, let's get back to the question.
To calculate the cost price, we need to find out by how much the profit increased. From 24% to 27% is an increase of 3%. And we know that this increase in profit is equal to Rs. 120.
Now, let's uncover the cost price mystery. To calculate the cost price, we'll set up a little math equation:
3% of the cost price = Rs. 120.
Are you ready? Drum roll, please...
Divide both sides of the equation by 3%.
Cost price = Rs. 120 / 3%
And the "serious" answer is... Cost price = Rs. 4,000.
So, I guess the commodity found that being funnier was quite profitable after all!
To find the commodity's cost price, we need to calculate the amount that results in a profit of Rs. 120 when the profit percentage is increased from 24% to 27%.
Step 1: Calculate the initial profit:
Let the cost price of the commodity be 'x'.
At a profit of 24%, the profit amount would be (24/100) * x = 0.24x.
Step 2: Calculate the profit amount after the increase:
At a profit of 27%, the profit amount would be (27/100) * x = 0.27x.
Step 3: Calculate the difference in profit amounts:
The increase in profit is 0.27x - 0.24x = 0.03x.
Step 4: Set up the equation:
According to the given information, the increase in profit is Rs. 120. Therefore,
0.03x = 120.
Step 5: Solve for x:
Divide both sides of the equation by 0.03 to isolate x:
x = 120 / 0.03.
Step 6: Calculate the value of x:
x = 4000.
Therefore, the cost price of the commodity is Rs. 4000.
To find the cost price of the commodity, we need to use the given information about the profit percentage increase and the difference in profit amount.
Let's start by considering the original profit percentage, which is 24%. This means that the selling price (S.P.) of the commodity is 124% of its cost price (C.P.). Mathematically, we can write it as:
S.P. = C.P. + Profit
Where, Profit = 24% of C.P.
Now, we can calculate the original selling price by considering 124% of C.P.
S.P. = 124% of C.P.
Now, let's consider the increased profit percentage, which is 27%. This indicates that the selling price (S.P.) of the commodity is 127% of its cost price (C.P.). Mathematically, we can write it as:
S.P. = C.P. + Profit
Where, Profit = 27% of C.P.
Now, we have the following equation:
S.P. + Rs. 120 (Increased profit amount) = C.P. + Profit
Since S.P. is 27% of C.P., we can write it as:
C.P. + 0.27C.P. + Rs. 120 = C.P. + 0.24C.P.
Simplifying the equation:
0.27C.P. - 0.24C.P. = Rs. 120
0.03C.P. = Rs. 120
Dividing both sides by 0.03:
C.P. = Rs. 120 / 0.03
C.P. = Rs. 4,000
Therefore, the cost price of the commodity is Rs. 4,000.