Multiple choice

To make a profit of 20% the selling price of the good is Rs. 240. The cost price of the good is,

  1. Rs. 200

  2. Rs. 210

  3. Rs. 220

  4. Rs. 230

  5. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

SP = CP * (1 + profit_percent/100). 240 = CP * 1.2. CP = 240 / 1.2 = 200.

AI explanation

Using the profit formula, Selling Price = Cost Price * (1 + Profit Percentage / 100), we substitute the known values to find the cost price. The equation becomes 240 = Cost Price * 1.20. Dividing Rs. 240 by 1.20 yields a cost price of Rs. 200.

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