Question

By selling an article for Rs.60, the shopkeeper made a profit of 20 percent. What was his cost price ?

Answer 1

Answer

• Cost price of the article = ₹ 50.

Given

• Selling price of the article = ₹ 60.

• Profit % = 20 %

To Find

• The cost price of the article.

Step By Step Explanation

Given that ⤵

• Selling price of the article = ₹ 60.

• Profit % = 20%

We need to find the cost price of the article.

So, let's do it !!

As we know ⤵

$\dag\boxed{ \bf{\red{CP = \cfrac{SP \times 100}{100 + Profit\%}}}}$

By substituting the values

$:\implies\sf \: CP = \cfrac{60 \times 100}{100 + 20} \\ \\ :\implies\sf \: CP = \cancel\cfrac{6000}{120} \\ \\:\implies\bf{\green{CP = 50\:rupees}}$

Therefore, Cost price of the article = ₹ 50.

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Answer 2

$\huge\mathtt\pink{A}\mathtt\red{N}\mathtt\blue{S}\mathtt\green{W}\mathtt\purple{E}\mathtt\green{R}$

Given:-

• Selling price = Rs.60
• Profit=20%

To find:-

• Cost price of article

Solution:-

Procedure:-

• If Sp is given and profit is given and cp is asked than add profit in 100.

$\large \: \: \: \: \: \: \: \: \rightarrow \: \frac{100 + 20}{100} \times x = 60$

$\large \: \: \: \: \: \: \: \: \rightarrow \: \frac{120}{100} \times x = 60$

$\large \: \: \: \: \: \: \: \: \rightarrow \:x = 60 \times \frac{100}{120}$

$\large \: \: \: \: \: \: \: \: \rightarrow \:x = 50Rs.$