Question

An article is bought for Rs. 480 and is sold for Rs. 420. If Rs. 120 is spent on its
transportation, find the loss or the gain as percent.

Answer 1

Step-by-step explanation:

SP of the article is = Rs 480 and Profit = 20%

So by using the formula, CP = 100/(100+Profit%) x SP

CP = 100/(100+20) x 480

= 100/120 x 480

= Rs 400

Hence the CP of the article is Rs 400