120=.27C-.24C
120=.03C
C=120/.03
120=.03C
C=120/.03
To calculate the cost price, we need to find out by how much the profit increased. From 24% to 27% is an increase of 3%. And we know that this increase in profit is equal to Rs. 120.
Now, let's uncover the cost price mystery. To calculate the cost price, we'll set up a little math equation:
3% of the cost price = Rs. 120.
Are you ready? Drum roll, please...
Divide both sides of the equation by 3%.
Cost price = Rs. 120 / 3%
And the "serious" answer is... Cost price = Rs. 4,000.
So, I guess the commodity found that being funnier was quite profitable after all!
Step 1: Calculate the initial profit:
Let the cost price of the commodity be 'x'.
At a profit of 24%, the profit amount would be (24/100) * x = 0.24x.
Step 2: Calculate the profit amount after the increase:
At a profit of 27%, the profit amount would be (27/100) * x = 0.27x.
Step 3: Calculate the difference in profit amounts:
The increase in profit is 0.27x - 0.24x = 0.03x.
Step 4: Set up the equation:
According to the given information, the increase in profit is Rs. 120. Therefore,
0.03x = 120.
Step 5: Solve for x:
Divide both sides of the equation by 0.03 to isolate x:
x = 120 / 0.03.
Step 6: Calculate the value of x:
x = 4000.
Therefore, the cost price of the commodity is Rs. 4000.
Let's start by considering the original profit percentage, which is 24%. This means that the selling price (S.P.) of the commodity is 124% of its cost price (C.P.). Mathematically, we can write it as:
S.P. = C.P. + Profit
Where, Profit = 24% of C.P.
Now, we can calculate the original selling price by considering 124% of C.P.
S.P. = 124% of C.P.
Now, let's consider the increased profit percentage, which is 27%. This indicates that the selling price (S.P.) of the commodity is 127% of its cost price (C.P.). Mathematically, we can write it as:
S.P. = C.P. + Profit
Where, Profit = 27% of C.P.
Now, we have the following equation:
S.P. + Rs. 120 (Increased profit amount) = C.P. + Profit
Since S.P. is 27% of C.P., we can write it as:
C.P. + 0.27C.P. + Rs. 120 = C.P. + 0.24C.P.
Simplifying the equation:
0.27C.P. - 0.24C.P. = Rs. 120
0.03C.P. = Rs. 120
Dividing both sides by 0.03:
C.P. = Rs. 120 / 0.03
C.P. = Rs. 4,000
Therefore, the cost price of the commodity is Rs. 4,000.