Question

By selling a bed sheet for ₹640, a shopkeeper earns a profit of 28%. How much did it cost the shopkeeper?

Answer 1

Selling price = rs.640
Profit%=28
Cost price =
100
--------- ×640
(100+28)

100
= ---------×640
128
=rs.500

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Answer 2

Gain% = 28%
Selling price = rs. 640
As per the formula, we know that
C.P = [100/(100+ gain%) x S.P]
= [ 100/(100+28) x 640]
= 64000/128
= 500

So, the original cost price of the bed sheet is Rs. 500.