Question

A bed sheet was sold for $483 thereby gaining 15%. Find the Cost Price of
the bed sheet.​

Answer 1

The original cost price of the bed sheet is found by dividing the sale price of $483 by 1.15, resulting in a cost price of $420.

Step-by-step explanation:

To find the Cost Price of the bed sheet, we first understand that the bed sheet was sold at a 15% profit. This means that the sale price ($483) is 115% of the original cost price. To find the cost price, we can set up the equation:

Cost Price + 15% of Cost Price = Sale Price

115% of Cost Price = $483

To find the cost price, we divide the sale price by 1.15:

Cost Price = $483 / 1.15

Cost Price = $420

Therefore, the original cost price of the bed sheet was $420.

Answer 2

let CP be x.
Gain=15% of x
SP=483$
Profit=SP-CP
CP=SP-Profit
x=483-15x/100
x+15x/100=483
100x+15x/100=483
115x/100=483
x=483*100/115
x=420
So, Cost price of the bed sheet is $420.