Correct Answer - Option 1 : Rs 28,000
Given
selling price = Rs.31,920
Profit% = 14
Concept
If selling price and profit% is given, then the formula for finding the cost price is as follows:
Cost price = [100/(100 + profit%)] × Selling price
Calculation
Cost price = [100/(100 + 14)] × 31,920
⇒ Rs.28,000
∴ The cost price is Rs 28,000.