Question

find CP if , SP= 1,000 and gain = 3 whole 1/8 % ​

Answer 1

gain% = (SP/CP - 1)100

3 1/8 = (1000/CP -1)100

25/8 = 100000/CP - 100

=> 825/8 = 100000/CP

=> CP = 800000/825

=> CP = 970 (approx)