A man sells an article at 230 and gains 15%. Find the cost price of the article

Questions : A man sells an article at 230 and gains 15%. Find the cost price of the article?

Answer:  

 You can use the shortcut formula to find the cost price (CP) when selling price (SP) and profit percentage are given:

Formula:

$$\text{Cost Price} = \frac{\text{Selling Price} \times 100}{100 + \text{Profit \%}}$$

Given Data:

• Selling Price (SP) = ₹230
• Profit = 15%

Applying the Formula:

$$CP = \frac{230 \times 100}{100 + 15}$$ $$CP = \frac{23000}{115}$$ $$CP = 200$$

Final Answer:

The cost price of the article is ₹200.

Additional Information

Here's how to calculate the cost price:

1. Understand the relationship: A 15% gain means the selling price (₹230) represents 115% of the cost price.

2. Set up a proportion: Let 'C' be the cost price.

   115/100 = 230/C

3. Solve for C:

   115C = 230 * 100

   115C = 23000

   C = 23000 / 115

   C = 200

Answer: The cost price of the article is ₹200.

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