If the marked price of a T-shirt which Ravi wants to purchase is Rs. 500 and markup percentage is 12

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13 Apr 2021 Cost Price

If the marked price of a T-shirt which Ravi wants to purchase is Rs. 500 and markup percentage is 12.5%, what is the cost price of T-shirt?

OPtion

1) 444.44
2) 400
3) 450.50
4) 500
5) 445.50
6) 425
7) 430
8) 460
9) 448
10) None of the above

Solution

MP = 112.5 of CP
500 = 112.5/100 x CP
500 = 9/8 x CP
CP = 500 x 8 / 9
CP = Rs. 444.44

Correct Option: 1 Best Solution (2)