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an article was sold for Rs.315 with a profit of 5%. what is the cost price?

CP   = (100/100+5%) x 315
CP   = (100/105) x 315
CP   = 20/21 x 315
CP   = 20 x 15
CP   = 300

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cost price = 300
  • 1
SP equal to 315
Profit percent equal to 5%
let CP be X
Then 5% of X + X equal to 315
(5/100xX)+X equal to 315
(1/20xX)+X equal to 315
X/20+20X/20 equal to 315
21X/20 equal to 315
X equal to 315x20/21
X equal to 300
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SP=Rs. 315
Profit=5%
CP= 100/100+Gain*SP
CP=100/105*SP
CP=100/105*315
CP=Rs.300/-
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