Multiple choice

Ishaan has a collection of silver cups in which the selling price of x number of cups is equal to the cost price of 24 cups. If the profit is 20%, then the value of x is

  1. 20

  2. 24

  3. 50

  4. 95

  5. 110
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A Correct answer
Explanation

Let CP of one cup be 1. SP of x cups = CP of 24 cups = 24. Profit = 20%, so SP = 1.2 * CP. Total CP = x. So 24 = 1.2 * x, which gives x = 20.

AI explanation

The profit formula states that (SP / CP) * 100 = 100 + Profit Percentage. Here, the ratio of selling price to cost price per cup is 120 / 100 = 1.2. The problem states that SP * x = CP * 24, which rearranges to SP / CP = 24 / x; setting this equal to 1.2 gives x = 24 / 1.2 = 20. The result is 20.

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