Selling price of an article is Rs. 306. Loss percentage is 40 percent. What is the cost price of the article?
Show answer & explanation
Correct answer: B
Explanation
Has been given :
Selling price = Rs 306
Loss % = 40%
According to the formula:
Selling price = Purchase price × (1 − Loss %)
306 = CP × (60/100)
CP = (306 × 100) / 60
= Rs 510