Radha sold a watch for Rs 144 and got a percentage of profit equal to the cost…
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Radha sold a watch for Rs 144 and got a percentage of profit equal to the cost price of the watch. What is the cost price of the watch ?
Answer: A. Rs 80 — When the profit percentage on an item equals the cost price (in rupees) itself, the cost price and selling price are related by a quadratic equation: if Cost…
- A.
Rs 80
- B.
Rs 78
- C.
Rs 72
- D.
Rs 90
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Correct answer: A
When the profit percentage on an item equals the cost price (in rupees) itself, the cost price and selling price are related by a quadratic equation: if Cost Price = x, then Profit% = x, so Profit = x × (x/100) = x2/100, and Selling Price = x + x2/100.
Let the cost price of the watch be Rs. x. It is given that the profit percentage equals the value of the cost price, so Profit% = x.
Profit amount = x% of x = x × (x/100) = x2/100.
Selling Price = Cost Price + Profit = x + x2/100. Since the Selling Price = Rs. 144, we get x + x2/100 = 144.
Multiplying both sides by 100: 100x + x2 = 14400, i.e. x2 + 100x − 14400 = 0.
Solving using the quadratic formula: x = [−100 ± √(1002 + 4×14400)] / 2 = [−100 ± √67600] / 2 = [−100 ± 260] / 2.
This gives x = 80 or x = −180. Since the cost price cannot be negative, x = 80.
Verification: taking Cost Price = Rs. 80, the profit percentage = 80, so Profit = 80 × 80/100 = Rs. 64, giving Selling Price = 80 + 64 = Rs. 144 — matching the value given in the question.
Therefore, the cost price of the watch is Rs. 80.