Question
A shopkeeper sells a product for ₹720 at a profit of
20%. What was the cost price of the product?Solution
Let the cost price be x. Profit = 20% of x = (20/100) * x = 0.2x Selling Price = Cost Price + Profit = x + 0.2x = 1.2x Given, 1.2x = 720 Solving for x, we get x = 720 / 1.2 = ₹600 Answer: (A)
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