Find the cost price of a book, when it is sold for Rs. 48 and the gain is 20%?
Find the cost price of a book, when it is sold for Rs. 48 and the gain is 20%?
Explanation
To find the cost price (CP), use the formula:
CP = Selling Price (SP) / (1 + Gain %)
CP = 48 / (1 + 0.20)
CP = 48 / 1.20
CP = 40