Question

if selling price of an article is rupees 420 and profit is 20% find its cost price

Answer 1

Given :

Selling price of an article is rupees 420 and profit is 20%

To Find :

find its cost price

Solution:

Let the cost price be x

Profit % = 20%

Profit = $20\% x=0.2x$

SP = CP+Profit

SP=x+0.2x

SP=1.2x

We are given that selling price of an article is rupees 420

So, 1.2x = 420

$x=\frac{420}{1.2}$

x=350

Hence The cost price is Rs.350