Select the correct answerOn selling an article for 651, there is a loss of 7%. The cost price of that article is?Options751744793700
Question
Select the correct answerOn selling an article for 651, there is a loss of 7%. The cost price of that article is?Options751744793700
Solution
To find the cost price, we first need to understand that the selling price given is actually 93% of the cost price. This is because there was a loss of 7%, so the selling price is 100% - 7% = 93% of the cost price.
We can set up the equation:
651 = 0.93 * Cost Price
To solve for the cost price, we divide both sides of the equation by 0.93:
Cost Price = 651 / 0.93
This gives us a cost price of approximately 700. So, the correct answer is 700.
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