Question

An article was sold for ₹ 250 with a profit of 5 % . What was its cost price?

Answer 1

Selling price of an article = Rs 250

Profit = 5%

Cost price = (100 x SP) / ( 100 + gain)

Cost price = (100 x 250) / 105

Cost price = (100 x 250) / 105 = Rs. 238