Difficulty: Easy
Correct Answer: 2400
Explanation:
Introduction / Context:
This question is a standard profit and loss calculation where the selling price and profit percentage are given and we must find the cost price. Understanding the relationship between cost price, selling price, and profit percent is essential for commercial arithmetic and aptitude exams.
Given Data / Assumptions:
Selling price (SP) of the table = Rs 2808.
Profit percentage = 17 percent.
Cost price (CP) is unknown and must be found.
Profit percent is calculated on cost price.
Concept / Approach:
Profit percent is defined as (profit / cost price) * 100. Since selling price equals cost price plus profit, we can also write SP = CP * (1 + profit percent / 100). Hence CP = SP divided by (1 + profit percent / 100). Substituting the values from the question gives a direct formula to compute cost price.
Step-by-Step Solution:
Profit percent = 17 percent, so 1 + profit percent / 100 = 1 + 17/100 = 1.17.
We know SP = CP * 1.17.
Given SP = Rs 2808, so 2808 = CP * 1.17.
Thus CP = 2808 / 1.17.
Compute 2808 / 1.17.
Multiplying numerator and denominator by 100 gives 280800 / 117.
280800 divided by 117 equals exactly 2400.
Therefore cost price of the table is Rs 2400.
Verification / Alternative check:
We can check by forward calculation. If CP is 2400, then profit at 17 percent is 17/100 * 2400 = 408. Selling price becomes 2400 + 408 = 2808, which matches the given selling price. This confirms that CP = 2400 is correct.
Why Other Options Are Wrong:
If CP were 2288, profit at 17 percent would be 389, giving SP 2677. For 2300, SP would be 2691. For 2600, SP would be 3042. None of these equal 2808. The option 3285 is much larger and would imply negative profit if SP remains 2808. Only 2400 satisfies the profit percentage and selling price condition exactly.
Common Pitfalls:
Some learners incorrectly compute CP as SP minus 17 percent of SP instead of CP. Profit percent must always be applied on cost price. Others may confuse profit percent with discount percent and mix up formulas. Using the direct relation SP = CP * (1 + profit percent / 100) helps maintain clarity.
Final Answer:
The cost price of the table is Rs 2400.
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