Ex.8.3 Q5 Compairing Quantities - NCERT Maths Class 7

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Question

I buy a T.V. for \(\rm Rs\, 10,000\) and sell it at a profit of \(20\%.\) How much money do I get for it?

 Video Solution
Comparing Quantities
Ex 8.3 | Question 5

Text Solution

What is Known?

Cost price \((\rm Rs\, 10,000)\) of T.V. and profit on selling it \((20\%).\)

What is Unknown?

The price at which TV was sold (selling price).

Reasoning:

In this question profit percent is given. Total profit can be calculated by multiplying cost price by profit percent and dividing by \(100\). Selling price can be obtained by adding total profit to the cost price.

Steps:

Cost price of TV \(= 10000\) and Profit percent \(= 20\%\)

Total profit 

\[\begin{align}&= \frac{{{\rm{20}}}}{{{\rm{100}}}}{\rm{ \times 10000}}\\ &= \rm{Rs}{\rm{.2000}}\end{align}\]

So, selling price will be \(=\) Cost price \(+\) profit

Thus,

Selling price

\(=10000+2000=\text{Rs}\text{12000}\)