Question

What is the cost price of article when selling price is 520 allows a profit of 20%?

Answer 1

According to question,

20% profit on CP =1→Profit5→CP

∴ SP = CP + Profit

SP = 5 + 1

SP = 6

Percentage of profit calculated on SP

Profit% = zProfitSP×100

=16×100=1623%