The sale price of an article including the sales tax is $ 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:  Choose the correct choice from the following choices: A) $700 B) $800 C) $500 D) $300 E) $400
C   $500   110% of S.P. = 616   S.P. = (616 * 100)/110= 
<gadget id="calculator">(616 * 100)/110</gadget>
<output>560</output>
$ 560   $500.P= (110 * 560)/112 = $ 500
<result>C</result>
The sale price of an article including the sales tax is $ 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: