The owner of a cell phone shop charges his customer 28%

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The owner of a cell phone shop charges his customer 28% more than the cost price. If the customer paid ₹ 8960 for the cell phone, what was the cost price of the cell phone ?

1. ₹ 7800
2. ₹ 7000
3. ₹ 6900
4. ₹ 6850
5. None of the above

Correct Option: B

CP = [100/(100 + Gain%)] x SP
= (8960 x 100)/128
= 70 x 100 = ₹ 7000