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A shopkeeper marks an article 30% above its cost price. If he sells it for GH¢162.50, what is the cost price?

Mathematics

ScanSolve AI Answer

Answer

GH¢ 125\text{GH¢ 125}

Step-by-step solution

3 steps

here's the solution for question 7(b):

  1. Define the variables.

    Let CpC_p be the cost price of the article.
    The shopkeeper marks the article 30% above its cost price. This means the marked price is Cp+0.30Cp=1.30CpC_p + 0.30 C_p = 1.30 C_p.

  2. Set up the equation.

    The problem states that the shopkeeper sells the article at GH¢162.50. Assuming the selling price is the marked price (as no discount is mentioned), we have:

    1.30Cp=162.501.30 C_p = 162.50

  3. Solve for the cost price CpC_p.

    Divide both sides by 1.30:

    Cp=162.501.30C_p = \frac{162.50}{1.30} Cp=125C_p = 125

    The cost price of the article is GH¢ 125\boxed{\text{GH¢ 125}}.

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