If An Article Is Sold At A Profit Of RS 120, Which Represents 20% Of The Selling Price, Then What Is The Cost Price Of The Article? - Testpoint

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If an article is sold at a profit of RS 120, which represents 20% of the selling price, then what is the cost price of the article?

500
600
480
976

Explanation

Given:

Profit = Rs. 120
Profit = 20% of Selling Price (SP)

$20% of SP = 120$ $SP = 120 \times 100/20 = R s .600$

Now,

$CP = SP - P ro f i t$

$= 600 - 120$

$= R s .480$

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