Question

On selling an article for $Rs2,640$, a profit of $10$ percent is made.
Find : cost price of the article.

Answer 1

Selling price$\left(SP\right)=2640$

Profit $\%\left(P\right)=10\%$

$P=\frac{SP-CP}{CP}\times 100$

$10=\frac{2640-CP}{CP}\times 100$

$CP=26400-10CP$

$11CP=26400$

$CP=\frac{26400}{11}$

$CP=2400$

Cost price of article$=$Rs. $2400$.