Question

find the cost price of an item sold for Rs 240 at a loss of 20%

Answer 1

Answer:

CP = Rs.300

Step-by-step explanation:

SP = Rs.240

Loss = 20%

CP  = {100 /(100 - loss %)} × SP

      = {100/(100 - 20)} x 240

      = 300

Answer 2

Answer:

Rs. 300

Step-by-step explanation:

SP = Rs. 240

Loss = 20%

CP = $\frac{100}{100 - 20}$ ×240

     = $\frac{24000}{80}$

    = Rs. 300

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