The bar graph given below shows the selling price of 6 given articles.
Selling price = Cost price × [1 + (Profit%/100)]
Profit earned on article F is 30 percent. What is the cost price of article F?
Show answer & explanation
Correct answer: B
Explanation
Given:
Selling Price of Item F = 600
Profit = 30%
According to the formula:
Selling Price = Cost Price × [1 + (Profit% / 100)]
600 = CP × (1 + 30/100)
600 = CP × 1.3
CP = 600 / 1.3
CP = 6000 / 13
CP = ₹461.54