Answer:
Cost Price = $1800
Step-by-step explanation:
Let cost price (CP) be x
Selling price(SP) = 1998
Profit = Selling price - cost price = 1998 - x
[tex]profit \% = \frac{SP - CP}{CP}[/tex]
[tex]\frac{11}{100} = \frac{1998-x}{x}[/tex]
[tex]0.11 = \frac{1998}{x} - 1\\\\1 + 0.11 = \frac{1988}{x}\\\\1.11 = \frac{1998}{x}\\\\x = \frac{1998}{1.11} = 1800[/tex]
