Question

# A dealer sold a camera for Rs. 1080 gaining $\dfrac{1}{8}$ of its cost price. Find:i).the cost price of the cameraii).the gain percent earned by the dealer

Hint: Using the selling price given in the question we find the relation between in cost price and selling price. Then we compute gain and gain percent.

(i) Let the cost price of the camera be x.
Given Data: Selling Price = 1080
Profit = $\dfrac{1}{8}$ of cost price
= $\dfrac{{\text{x}}}{8}$
Profit implies, Selling Price = Cost Price + Profit
âŸ¹1080 = x + $\dfrac{{\text{x}}}{8}$
âŸ¹1080 = $\dfrac{{{\text{8x + x}}}}{8}$
âŸ¹1080 = $\dfrac{{{\text{9x}}}}{8}$
âŸ¹120 = $\dfrac{{\text{x}}}{8}$
âŸ¹960 = x
Cost price of the camera x = Rs. 960

(ii) Gain = $\dfrac{{\text{x}}}{8}$ = $\dfrac{{960}}{8}$
âŸ¹Gain = Rs. 120

Gain percent (gain %) = ($\dfrac{{{\text{gain}}}}{{{\text{cost price}}}}$) Ã— 100
= ($\dfrac{{120}}{{960}}$) *100
= 100/8
Gain % = 12.5 %

Note â€“ In order to solve this type of question, the crucial step is to find the relation between selling price and cost price.
If Profit: Selling price = Cost Price + Profit
If Loss: Selling Price = Cost Price â€“ Loss
Profit or loss will always be a fraction or percentage of cost price.