The sale price of an article including the sales tax is Rs. 616. The rate of sales tax is 10%. If the shopkeeper has made a profit of 12%, then the cost price of the article is :

Rs. 560
Rs. 530
Rs. 500
Rs. 514

Correct Answer: Rs. 500

Explanation:

110% of S.P. = Rs. 616

S.P. = (616 x 100)/110 = Rs. 560

C.P = (110 x 560)/112 = Rs. 500

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