Answer: CP = Rs 78.667
Step-by-step explanation:
The data given to us are
Selling price = Rs. 118
Profit percentage = 50
Now using the form formula
CP = ( SP * 100 ) / ( 100 + percentage profit).
Where;
Cp is cost price and Sp is selling price
So we input our numbers
CP = ( 118 × 100 ) / ( 100 + 50)
CP = 11800 / 150
CP = Rs 78.667
