The labelled price of a cupboard is Rs.6,500/-. The shopkeeper sold it by giving 5% discount on the labelled price and earned a profit of 15%. What approximately is the cost price of the cupboard?
Correct Answer: Description for Correct answer:
According to question
Selling Price
= Rs. \( \Large Rs.6500 - Rs.\frac{6500 \times 5}{100} \)
= Rs.6500 - Rs.325 = Rs.6175
Therefore, Cost Price = Rs. \( \Large \frac{6175 \times 85}{100} \)
=Rs.5248.75
=Rs.5350
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