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in Profit and Loss by (239k points)
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Find the cost price of an article, if profit percentage is 14% and selling price of an articles is Rs 31,920.
1. Rs 28,000
2. Rs 14,000
3. Rs.35,000
4. Rs.23,000

1 Answer

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Best answer
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​.

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