Multiple choice

The selling price and cost price of an article differ by Rs. $240$. If the profit percentage is $20$, then selling price is:

  1. Rs. $1440$
  2. Rs. $1200$
  3. Rs.$1420$

  4. None of these
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A Correct answer
Explanation

Profit = 0.2 * CP. Difference between SP and CP is Profit = 240. So 0.2 * CP = 240, CP = 1200. SP = CP + Profit = 1200 + 240 = 1440.

AI explanation

Using the profit percentage formula, 20% of the cost price equals the profit of Rs. 240. This gives the cost price as 240 divided by 0.20, which is Rs. 1200. The selling price is the cost price plus the profit, calculated as 1200 + 240, resulting in Rs. 1440.

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