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By selling a bedsheet for Rs $640$ a shopkeeper earns a profit of 28%. How much did the bedsheet cost the shopkeeper?
Given the Selling price of a bedsheet as Rs 640 at a profit percentage of 28%
To find the cost price of the bedsheet
Solution:
Selling price of bedsheet = SP = Rs 640
Profit % = 28%
The cost price of bedsheet = CP = $\frac{100 SP}{100 + 28}$
= $\frac{100\times 640}{128}$
=Rs $500$
The bedsheet cost Rs $500$ to the shopkeeper.
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