Question

an article is sold for Rs 574 at a profit of 16 whole 2 by 3% then find the cost price of the article

Answer 1

Method 1-
16 whole 2/3 % = 50/300= 1/6
in 1/6 ,cost price is 6 then selling price will be(6+1)=7
here selling price given 574 that is equal to 7 unit
means 7 unit = 574
then cost price is 6 unit.so 6 =( 574/7)×6
= 82×6 = 492
cost price is 492.
method 2-
cost price = {100/(100+profit)}×selling price
= {100/(100+50/3)}×574 = (300/350)×574
= (6/7)×574= 6×82= 492Rs