Question 102

Mohan purchased an article and sold it for Rs 2817.50 and earned 15 per cent profit on the cost price. What was the cost price of the article ?

Solution

Let the cost price of the article be C.
As the profit percentage is 15%, the selling price equals 1.15C

1.15C = 2817.50
Hence, C = 2450

So, the cost price of the article is Rs. 2450

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