The owner of the cell phone shop charges 23% more than the cost price. If a customer paid 7011 for a cell phone, find the cost price of the cell phone.

5700

Let cost price = 100

then ATQ,

Selling price = 23% more than CP = 100 + 23 = 123

Selling Price = 123% of Cost Price

Now,

Selling price = Rs.7011

Cost price = \(\frac{ 7011}{ 123}\) × 100 = Rs.5,700