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Indian Economy - Understanding the basics of Indian economic system

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The cost price of an article is Rs. 480. If it is to be sold at a profit of 6.25 percent, how much would be its selling price ?

510

530

503

519

Explanation:

SP = 100 + Profit%/100 x CP
= 100 + 6.25/100 x 480
= 106.25/100 x 480 = Rs. 510