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A man sells an article for Rs. 330 thereby gaining 10%. Then how much the article costs the man.

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A man sells an article for Rs. 330 thereby gaining 10%. Then how much the article costs the man.
1. Rs. 340
2. Rs. 303
3. Rs. 300
4. Rs. 320
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Correct Answer - Option 3 : Rs. 300

Given:

SP of the article = Rs.330

Profit = 10%

Formula Used:

SP = [(100 + profit%)/100] × CP

Calculation:

330 = [(100 + 10)/100] × CP 

⇒ 330 = (1.1)CP

∴ CP = 330/1.1 = Rs.300

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