Question

a shopkeeper sells an article at rupees 320 thus suffering a loss of 20 percent. find the cost price of the article

Answer 1

Formula --> CP = SP[100÷(100-loss%)]
Answer.
Here, SP = 320
loss% = 20
Therefore,
CP = 320 [ 100÷ (100-20)]
= 320 (100÷80)
= 320×5/4
= 400
Cost price is Rs. 400

Answer 2

Let Cost Price of the article be p.

According to the Question

Loss = 20%

Selling Price = ₹ 320

Formula Loss = CP - SP

Loss = (p - 320).

Using Formula

= $\bf\huge Loss = \frac{Loss}{CP} \times100$

$\bf\huge 20 = \frac{p-320}{p}\times100$

⇒ p = 5p - 1600

⇒ 4p =  1600

⇒ p = 400

The Cost Price of the article is ₹400