To find the cost price of the article, we can use the formula:
Cost Price = Selling Price / (1 + Profit Percentage)
In this case, the selling price is GH¢1470.00, and the profit percentage is 22 1/2% (or 22.5% in decimal form).
Let's calculate the cost price:
Cost Price = GH¢1470.00 / (1 + 0.225)
Cost Price = GH¢1470.00 / 1.225
Cost Price ≈ GH¢1200.00
Therefore, the cost price of the article is approximately GH¢1200.00.