The following bar chart shows the revenue (in thousand rupees) generated from the sale of 5 different objects, Q1 to Q5.
The following bar chart shows the profit percentage gained through the sales of these 5 objects.
Profit percentage = $\frac{Revenue − Cost}{Cost}$ × 100
What is the cost incurred in the procurement and sale of Q1?
Answer & explanation
Correct answer: option 3
Profit percentage = $\frac{Revenue − Cost}{Cost}$ × 100
Revenue of Q1 = 180
Profit of Q1 = 20%
20% = $\frac{180000 − Cost}{Cost}$ × 100
0.2 = $\frac{180000 }{Cost}$ - 1
1.2 = $\frac{180000 }{Cost}$
Cost = $\frac{180000 }{1.2}$ = 150000