How to Calculate the Cost Price of a Bag of Wheat
What is the selling price of a bag of wheat?
The selling price of a bag of wheat is Rs.1550 per bag of 25 kg.
What is the profit earned from selling the bag of wheat?
The profit earned from selling the bag of wheat is Rs.150.
What is the cost price of the bag of wheat?
The cost price of the bag of wheat is:
Cost Price = Selling Price - Profit
Calculating the cost price of a bag of wheat involves subtracting the profit from the selling price. In this case, the selling price of the bag of wheat is Rs.1550 and the profit earned is Rs.150. By using the formula:
Cost Price = Rs.1550 - Rs.150
Cost Price = Rs.1400
Therefore, the cost price of the bag of wheat is Rs.1400.