The difference between cost price and selling price is Rs. 264. If profit percentage is 33 percent, then what is the selling price?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Rs. 1064.
Profit = Selling Price − Cost Price
the profit is Rs. 264, we can write:
⇒ SP − CP = 264 .............(1)
Profit Percentage = (Profit/Cost Price) × 100
⇒ Profit Percentage = 264/CP × 100 = 33
⇒ Profit Percentage 264 = 0.33 × CP
⇒ CP = 264/0.33 = 800
SP = CP + 264 = 800 + 264 = 1064