Multiple choice

If an item is sold for $Rs\ 924$ then there is a profit $10\%$. What is the cost price?

  1. $Rs\ 840$
  2. $Rs\ 860$
  3. $Rs\ 880$
  4. $Rs\ 900$
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A Correct answer
Explanation

Selling price = Cost price * (1 + profit%). 924 = CP * 1.10. CP = 924 / 1.1 = 840.

AI explanation

Using the formula for profit, Cost Price = Selling Price x (100 / (100 + Profit Percent)), we substitute the given values. Cost Price = 924 x (100 / (100 + 10)), which simplifies to 924 x (100 / 110). Performing the multiplication yields 840, so the cost price is Rs. 840.

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