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- Identify CP and SP.
- Find profit/loss amount.
- Use CP as base for percentage if asked.
Correct Answer: C
Correct Answer: C
Method / Topic: Profit and Loss
Profit or loss percentage is calculated on cost price.
Short Explanation
Detailed Explanation
Correct Answer: C
Method / Topic: Profit and Loss
<table cellspacing="0" style="border-collapse:collapse; width:85px">
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<td style="border-bottom:none; border-left:none; border-right:none; border-top:none; height:20px; vertical-align:bottom; white-space:normal; width:85px">A profit of 20% means selling price is 120% of cost price. So 120% of CP = Rs. 1440. Therefore, CP = 1440 × 100 / 120 = Rs. 1200. A quick trick: divide the selling price by 1.2 to get the cost price.</td>
</tr>
</tbody>
</table>
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Learn + Solve: Shortcut, Trap & Fast Route Click to view shortcut, steps, and common mistake
Shortcut used, common trap, and the fastest solving route
- Identify CP and SP.
- Find profit/loss amount.
- Use CP as base for percentage if asked.
An article is sold for Rs. 1440 at a profit of 20%. What is its cost price?
Explanation
Correct Answer: C
Method / Topic: Profit and Loss
Profit or loss percentage is calculated on cost price.
Short Explanation
Detailed Explanation
Correct Answer: C
Method / Topic: Profit and Loss
<table cellspacing="0" style="border-collapse:collapse; width:85px">
<tbody>
<tr>
<td style="border-bottom:none; border-left:none; border-right:none; border-top:none; height:20px; vertical-align:bottom; white-space:normal; width:85px">A profit of 20% means selling price is 120% of cost price. So 120% of CP = Rs. 1440. Therefore, CP = 1440 × 100 / 120 = Rs. 1200. A quick trick: divide the selling price by 1.2 to get the cost price.</td>
</tr>
</tbody>
</table>
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