what is the cost of one metre of cloth?

Cost of $3 \frac{1}{2} \mathrm{~m}$ of cloth $=₹ 166 \frac{1}{4}$

So, the cost of $1 \mathrm{~m}$ of cloth $=\frac{166 \frac{1}{4}}{3 \frac{1}{2}}=\frac{\frac{665}{4}}{\frac{7}{2}}=\frac{665}{4} \times \frac{2}{7}=\frac{95}{2}=₹ 47 \frac{1}{2}$

Hence, the cost of $1 \mathrm{~m}$ of cloth is ₹ $47 \frac{1}{2}$.