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

Given that

SP = Rs 483

Profit % = 15 %

CP = ?

$$\begin{gathered} profit = 15 \% of CP \\ SP = CP + profit \\ SP = CP + 15 \% of CP \\ 483 = CP + \frac{15}{100} \times CP \\ 483 = CP + \frac{3}{20} \times CP \\ 483 = \frac{20 CP + 3 CP}{20} \\ 483 = \frac{23 CP}{20} \\ \frac{483 \times 20}{23} = CP \\ 21 \times 20 = CP \\ 420 = CP \end{gathered}$$

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