Question

Mohit sold a TV for Rs.3,600 gaining one sixth of its selling price. Find the cost price of the TV
a.Rs.3125
b.Rs. 2775
c.Rs.3250
d.Rs.3000

Answer 1

Hint: We are given the selling price of the TV and the gain is one sixth of the selling price .That is it is $\dfrac{1}{6}$ times of the selling price and with the formula Profit = selling price – cost price we can find the cost price of the TV.

Complete step-by-step answer:
Step by step solution :
We are given the selling price of the TV to be Rs.3600
Its given that he gains a profit that is one sixth of the selling price
That is the profit is $\dfrac{1}{6}$ times of selling price
$
   \Rightarrow {\text{Profit}} = \dfrac{1}{6}*SP \\
   \Rightarrow {\text{Profit}} = \dfrac{1}{6}*3600 \\
   \Rightarrow {\text{Profit}} = 600 \\
$
Hence mohit gains Rs.600 by selling the TV
Now we know that Profit = selling price – cost price
$
   \Rightarrow 600 = 3600 - CP \\
   \Rightarrow CP = 3600 - 600 \\
   \Rightarrow CP = 3000 \\
$
Therefore the cost price of the TV is Rs.3000.

Note: When we are given that a number a is one n th of b it means that a is $\dfrac{1}{n}$ times of b
If the loss is given then the cost price can be calculated by Loss = Cost price – selling price