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

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

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best_answer

We have,
SP = Rs 250
Profit = 5%
CP =?

Therefore, 
SP = CP (1+\frac{profit\%}{100})
put the values in the above equation, we get

\\\Rightarrow 250 = CP (1+\frac{5}{100})\\ \Rightarrow 250 = CP\times \frac{21}{20}\\
CP = \frac{250\times 20}{21} = 238.095 

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manish

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