The owner of a cell phone shop charges his customer 23% more than the cost price. If a customer paid Rs.7,430 for a cell phone, then what was the cost price of the cell phone?	Select: A) Rs.5,845 B) Rs.6,040 C) Rs.5,700 D) Rs.6,925 E) None of these
Explanation:   123% of CP =SP   Therefore, CP = Rs.7,430x100/123 = Rs.6040   Answer: Option Rs.6,040
<result>B</result>
The owner of a cell phone shop charges his customer 23% more than the cost price. If a customer paid Rs.7,430 for a cell phone, then what was the cost price of the cell phone?