Question

A Shopkeeper sells an article at rs 300 thus earning a profit of 20%.find the cost price of an article

Answer 1

We are given, SP = 300
And Profit = 20%

We know that Profit% = Profit*100/CP
                   So, 20*CP = 100*Profit
                         so, Profit = CP/5

So, SP-CP = CP/5
       So, 300 = CP/5+CP
          SO, 6CP = 1500
          So,  CP = 250 rs

Answer 2

Sp= 300

P=20%

Let cp be x

X of x*20/100= x/5

Since profit

X+x/5=3

Do lcm

5x+x/5=300

6x=1500

X=1500/6

Ans.250