Staff Selection Commission Quantitative Aptitude — Question 54

Question

If a shopkeeper sells an item for Rs.540 at a profit of 8%, what is the cost price?

1. 480
2. 500
3. 520
4. 560

Correct answer

B — 500

Explanation (English)

CP = SP x 100/(100+profit%) = 540 x 100/108 = 500

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