The owner of a cell phone shop charges his customer 28% more than the cost price. If the customer paid ₹ 8960 for the cell phone, what was the cost price of the cell phone?
Correct Answer: ₹ 7000
Explanation:
CP = [100/(100 + Gain%)] x SP
= (8960 x 100)/128
= 70 x 100 = ₹ 7000
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