Question

By selling an article for $320, the profit was 20% of the cost price.What was the cost price of the article?

Answer 1

Answer:

300 is the cost prize of the article

Answer 2

Answer: $266.67

Step-by-step explanation:

#1= $320= 120% :why? because 20% is the profit percentage and 320 was the selling price, not the profit price.

#2=$320=120%

         ?    = 100%  :why? because we are to find the original price.

#3= 320x100/120 :why? because we cross multiply the selling price multiplied by the original percentage which is 100 divided by the profit percentage.

#4= $266.67