Final answer:
To determine the cost price of an article that Mohan sold for a 15 percent profit at Rs 2817.50, we use the equation 1.15(CP) = Rs 2817.50 and solve for CP to find that the cost price was Rs. 2,450.
Step-by-step explanation:
Mohan's selling of an article for Rs 2817.50 with a 15% profit on the cost price involves setting up an equation to determine the original cost price (CP). The equation reflects that the cost price increased by 15% should equal the selling price.
Mathematically, this equation is represented as (CP) + 0.15(CP) = Rs 2817.50, where 0.15(CP) is the 15% profit on the cost price. Combining like terms, it simplifies to 1.15(CP) = Rs 2817.50.
To find the cost price (CP), we isolate it by dividing both sides of the equation by 1.15:
\[ CP = \frac{2817.50}{1.15} \]
Calculating this expression yields \( CP = Rs 2450 \). Therefore, the cost price of the article was Rs. 2,450.
This solution approach aligns with the basic principle of accounting for both the cost price and the additional profit percentage when determining the selling price. By formulating and solving this equation, one can accurately ascertain the original cost incurred by Mohan in obtaining the article before applying the profit margin. The outcome, Rs. 2,450, signifies the foundational cost of the article, and the subsequent sale at Rs 2817.50 reflects the inclusion of the 15% profit margin. Such mathematical calculations are essential in business transactions, providing clarity on pricing strategies and profit margins in commercial activities.