An item was sold at 23% more than the cost price. If the selling price is Rs. 14022, then find the cost price.
Given:
Selling price = Rs. 14022 Profit percent = 23%
Formula Used:
Selling Price = Cost Price + Profit Profit = (Profit percent / 100) * Cost Price Selling Price = Cost Price * (1 + Profit percent / 100)
Solution:
Let the cost price be x
As per the question
x×123/100=14022
x=(14022×100)/123=11400
Therefore, the cost price of the item is Rs. 11400.
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