Question

A book is sold for $5.40, at a profit of 8%. What was the cost price?

Answer 1

Let the cost price be ‘x’
ATQ,
Profit % = (sales price - cost price) / 100
SP= 5.40, CP = x
Formula-> CP = (SP * 100)/(100 + profit %)

=> x = (5.40 * 100) / (100 + 8)
=> x = 540/108
=> x = 5

Therefore, Cost price is $5