The sale price of an article including the sales tax is TK. 616 . The rate of sales tax 10% If the shopkeeper has made a profit of 12% , then the cost price of the article is :
A
Tk. 500
B
Tk. 515
C
Tk. 550
D
TK. 600
Correct Answer: Tk. 500
Let the C.P. of the article be x Tk. The s.p. = x×1.12×1.1 Given x×1.12×1.1 = 616 ⇒ x = 6161.232 = 500