Question

if a shop keepers sells a fridge for 18000 and gets a profit of 20% then what was its cost price??

Answer 1

SP = 18000
Profit earned = 20%
Let the CP be x

$x \times \frac{(100 + 20)}{100} = 18000 \\ x \times \frac{120}{100} = 18000 \\ x \times 1.2 = 18000 \\ x = \frac{18000}{1.2} \\ x = 15000$
Therefore CP = 15000