Question

A television is sold for Rs.44,000 at a profit of 10%. What is the cost price?

• A. Rs.42,000
• B. Rs.40,000
• C. Rs.41,000
• D. Rs.41,500

Hint:

For profit problems, divide SP by $(1 + \frac{Profit}{100})$ to get CP.

Answer 1

The Correct Option is B

To solve this problem, we need to determine the cost price of the television given that it's sold at a profit of 10%. Follow these steps to find the solution:

1. Let the cost price of the television be \(CP\).
2. The television is sold for Rs. 44,000 at a profit of 10%. This means that the selling price (SP) is 10% more than the cost price.
3. We can use the formula for profit percentage: \(\text{Profit \%} = \left( \frac{\text{SP} - \text{CP}}{\text{CP}} \right) \times 100\)
4. Given that the profit percentage is 10%, the formula becomes: \(10 = \left( \frac{44000 - \text{CP}}{\text{CP}} \right) \times 100\)
5. Rearranging the equation, we have: \(0.1 = \frac{44000 - \text{CP}}{\text{CP}}\)
6. Now solve for \(\text{CP}\):
   • Multiply both sides by \(\text{CP}\):
   • \(0.1 \times \text{CP} = 44000 - \text{CP}\)
   • Adding \(\text{CP}\) to both sides gives: \(1.1 \times \text{CP} = 44000\)
   • Divide by 1.1 to find \(\text{CP}\): \(\text{CP} = \frac{44000}{1.1}\)
   • Calculating the division, we get: \(\text{CP} = 40000\)

Therefore, the cost price of the television is Rs. 40,000. The answer is consistent with option 2: Rs. 40,000.