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Profit and Loss

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  1. An item when sold for $ 1,690 earned 30% profit on the cost price. Then the cost price is
    1. $ 507
    2. $ 630
    3. $ 1,300
    4. $ 130
Correct Option: C

Given , Selling price = $ 1,690 and profit = 30%
If the C.P. be y, then
( 100 + 30 )% of y = Selling price

⇒
y × 130
 = 1690
100

⇒ y =
1690 × 100
 = $ 1300
130


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