A man sold an article for ₹247.50, there by gaining 12.5%. The cost of the article was:
Given:
Selling price of the article = Rs.247.5
Profit = 12.5%
Solution:
Let the cost price of the article = 100 unit
Then the selling price of the article = 100unit + 12.5 unit = 112.5 unit
According to the question 112.5 unit = 247.5
1 unit = 2.2
Then the cost price of the article 100 unit = 1002.2 =Rs. 220
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