Rohit made a profit of 22% when he sold a jacket for ₹7,930. Find the cost price of the jacket.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e ₹6,500.
Selling price = ₹7,930
Profit = 22%
Cost Price = Selling Price ÷ (1 + Profit%) = 7930 ÷ (1 + 22/100) = 7930 ÷ 1.22 = ₹6,500