Question

Sold goods of ₹ 24,000 at 20% profit on cost, the purchase price of the goods is?

Answer 1

Answer:

20000

Step-by-step explanation:

24000*100/120

Answer 2

The purchase price of the goods is Rs.20000

Step-by-step explanation:

Let the cost price of good be x

Profit% = 20%

Profit = $20\% \times x= 0.2x$

SP = CP+Profit

SP=x+0.2x

SP=1.2x

We are given that selling price is Rs.24000

So, $1.2 x=24000$

$x=\frac{24000}{1.2}$

x=20000

Hence the purchase price of the goods is Rs.20000

#Learn more:

According equation:- good costing Rs 24,000 was sold at 33,1/3% profit. Half payment

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