If an item is sold for Rs 924 then there is a profit of 10% then what is the cost price ?

Options

A. Rs 840
B. Rs 860
C. Rs 880
D. None of these

Answer

To find the cost price (CP) of the item when it is sold for Rs 924 with a profit of 10%, we can follow these steps:

### Step 1: Understand the relationship between Selling Price (SP), Cost Price (CP), and Profit Percentage.
The relationship can be expressed as:
\[ SP = CP + Profit \]
Where Profit can also be expressed in terms of Cost Price as:
\[ Profit = \frac{Profit \%}{100} \times CP \]

### Step 2: Substitute the profit formula into the selling price formula.
From the above relationships, we can rewrite the Selling Price as:
\[ SP = CP + \frac{Profit \%}{100} \times CP \]
This simplifies to:
\[ SP = CP \left(1 + \frac{Profit \%}{100}\right) \]

### Step 3: Substitute the known values into the equation.
Given:
- Selling Price (SP) = Rs 924
- Profit Percentage = 10%

Substituting these values into the equation gives:
\[ 924 = CP \left(1 + \frac{10}{100}\right) \]
\[ 924 = CP \left(1 + 0.10\right) \]
\[ 924 = CP \times 1.10 \]

### Step 4: Solve for Cost Price (CP).
To find CP, we can rearrange the equation:
\[ CP = \frac{924}{1.10} \]

### Step 5: Calculate the value of CP.
Now, performing the calculation:
\[ CP = \frac{924}{1.10} = 840 \]

### Conclusion:
Thus, the Cost Price (CP) of the item is Rs 840.