Question

A shopkeeper sells an article for Rs 300, thus earnings a profit of 20 %. Find the cost price of the article

Answer 1

sp = 300
let cp = a
profit % = 20% of a
= 20×a/100
= a /5
sp = cp + profit
300 = a+a/5
300 = 6a /5
300 × 5 = 6a
a = 300×5/6
a = 50 × 5
a = 250
cp = 250
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Answer 2

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