Question

a shopkeeper sells an article at rupees 300,thus earning a profit of 20 percent. find the cost price of the article

Answer 1

SP = 300
Profit earned = 20%
Let the CP be x

$x \times \frac{(100 + 20)}{100} = 300 \\ x \times \frac{120}{100} = 300 \\ x \times 1.2 = 300 \\ x = \frac{300}{1.2} \\ x = 250$
Therefore CP = 250