A manufacturer sold an article at a profit of 4% to a wholesaler. The wholesaler sold the same at 5% profit to the retailer. If the retailer paid Rs. 273 for the article, then the cost price of the manufacturer is-

Working backwards: Retailer paid Rs. 273 at 5% profit over wholesaler's price. Wholesaler's selling price = 273/1.05 = Rs. 260. Wholesaler sold at 5% profit over cost, so wholesaler's cost = 260/1.05 ≈ Rs. 247.62. But manufacturer sold at 4% profit, so manufacturer's cost = 247.62/1.04 ≈ Rs. 238.10. This doesn't match Rs. 250. Let me recalculate: If manufacturer's CP = 250, manufacturer sells at 4% = 250 × 1.04 = 260. Wholesaler sells at 5% = 260 × 1.05 = 273. ✓ So Rs. 250 is correct.