Question

A man sold \[18\] cots for Rs. \[16,800\] , gaining thereby the cost price of \[3\] cots. The cost price of a cot is
A. Rs. \[650\]
B. Rs. \[700\]
C. Rs. \[750\]
D. Rs. \[800\]

Answer 1

Hint: Here, the word problem converted into a mathematical equation and then calculated by the profit and loss conceptual formula is used to find the cost price of a cot. Cost Price (CP) - This is the price at which an article is purchased. Selling Price (SP) - This is the price at which an article is sold.

Complete step by step solution:
The given number of sold \[18\] cots at RS. \[16800\]
To calculate the Gaining from the cost price of \[3\] cots.
Let us assume X be the cost price of the number of sold \[18\] cots.
Total Number of cots \[ = 18 + 3 = 21\] Cots
To find the cost of a cot,
Cost of \[1\] cot \[ = \] Total cost price \[ \div \] Number of cots
By substituting the values into the formula, we get
Cost of \[1\] cot \[ = \dfrac{{16800}}{{21}} = 800\]
Simplify, we get
Cost of a cot is Rs. \[800\]
Therefore, the cost price of a cot is Rs. \[800\]
The final answer is option(D). \[800\] .
So, the correct answer is “Option D”.

Note: We use the profit and loss method to solve the word problem, Profit or Gain is defined as If the selling price is more than the cost price, the difference between them is the profit incurred. To find profit and from the following formula, Profit or gain \[ = \] Selling price \[ - \] Cost price, Loss \[ = \] Cost price \[ - \] Selling price. But, we need to find the cost price of a cot that is calculated from the total cost.