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The labeled price of a cupboard is Rs 6500 The shopkeeper sold it by giving 5 percent discount on the labeled price and earned a profit of 15 percent What is the cost price of the cupboard?
Wiki User
∙ 14y ago
The shopkeeper sold the cupboard for Rs 6175.
5% of 6500 = .05 x 6500 = 325
6500 - 325 = 6175
Since he earned a profit of 15% of the cost, the cost price, C, would be Rs 5369.57.
C + 15% of C = 6175
C + .15C = 6175
1.15C = 6175 (divide by 1.15 to both sides)
C ≈ 5369.57
Wiki User
∙ 14y ago
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