An item is sold for Rs 7130 making a 15% profit. What is the cost price (in Rs) of this item ?

Options

A. 6000
B. 6125
C. 6250
D. 6200

Answer

To find the cost price of an item sold for Rs 7130 with a profit of 15%, we can follow these steps:

### Step 1: Understand the relationship between selling price, cost price, and profit.
The selling price (SP) is related to the cost price (CP) and profit percentage (P) by the formula:
\[ SP = CP + Profit \]
Where:
\[ Profit = \frac{P}{100} \times CP \]

### Step 2: Substitute the profit formula into the selling price formula.
We can rewrite the selling price formula as:
\[ SP = CP + \frac{P}{100} \times CP \]
This can be simplified to:
\[ SP = CP \left(1 + \frac{P}{100}\right) \]

### Step 3: Plug in the values.
Given:
- Selling Price (SP) = Rs 7130
- Profit Percentage (P) = 15%

Substituting these values into the formula:
\[ 7130 = CP \left(1 + \frac{15}{100}\right) \]
This simplifies to:
\[ 7130 = CP \left(1 + 0.15\right) \]
\[ 7130 = CP \times 1.15 \]

### Step 4: Solve for the cost price (CP).
To find CP, we can rearrange the equation:
\[ CP = \frac{7130}{1.15} \]

### Step 5: Calculate the cost price.
Now, performing the division:
\[ CP = \frac{7130}{1.15} \approx 6200 \]

### Conclusion:
The cost price of the item is Rs 6200.

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