Sandeep made a profit of 22% when he sold an overcoat for ₹8,540. Find the cost price of the overcoat.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. ₹7000.
Let the Cost price of the overcoat be 100x
Selling price = 122% of 100x = 122x
According to the question;
⇒ 122x = 8540
⇒ x = 70
Cost price = 100x
⇒ 100 × 70
⇒ 7000