A bed sheet was sold for Rs. 483 thereby gaining 15%. Find the cost price of the bed sheet.

Given: SP = Rs. 483

Gain % = 15%

CP =?

We know that,

$\mathrm{Gain}\%=\frac{\mathrm{SP}-\mathrm{CP}}{\mathrm{CP}}\times 100$

$\Rightarrow 15=\frac{483-\mathrm{CP}}{\mathrm{CP}}\times 100$

$\Rightarrow 15\mathrm{CP}=48300-100\mathrm{CP}$

$\Rightarrow 115\mathrm{CP}=48300$

$\Rightarrow \mathrm{CP}=\frac{48300}{115}$

$\Rightarrow \mathrm{CP}=420$

Hence, the cost price of the bed sheet is Rs. 420.