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A shopkeeper sold a cooker for USD560 making 12% profit. Find the cost price of the cooker.

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2 Answers

0 votes
ago by (585 points)
Let "p" be the cost price of the cooker.  Then:

(p)(1.12) = 560.00

p = 500

The cost price of the cooker was $500.00
0 votes
ago by (120 points)
Let's assume the cost price of the cooker is "x" dollars.

According to the problem, the shopkeeper sold the cooker for USD 560 making a profit of 12%.

We know that profit is equal to the difference between the selling price and the cost price. So,

Profit = Selling Price - Cost Price

12% of Cost Price = Selling Price - Cost Price

12% of x = 560 - x

0.12x = 560 - x

1.12x = 560

x = 500

Therefore, the cost price of the cooker is USD 500.

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