Question
A shopkeeper sells an article for ₹18,500 at a loss of 20%. What was the cost price of the article?
Solution
Let the cost price of the article be ₹x. Selling price = Cost price - Loss = x - (20% of x) = x - 0.20x = 0.8x. We know the selling price is ₹18,500, so: 0.8x = 18,500, x = 18,500 / 0.8 = ₹23,125 The cost price of the article is ₹23,125
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