Join 60,000+ competitive exam aspirants
or with email
Your Cart
SubtotalтВ╣0
TotalтВ╣0
Examoogle тАв User тАв info@examoogle.com тАв EE-2024-8821
Chapter 1 of 12 тАв Page 1 of 248ЁЯФТ Protected PDF тАв Watermarked
Join 60,000+ competitive exam aspirants
A shopkeeper sells an article for Rs. 960, earning a profit of 20%. What was the cost price of the article?
Rs. 800
Rs. 750
Rs. 850
Rs. 900
Rs. 800
Use the ratio method: 20% profit means the cost price is 5 parts and selling price is 6 parts. Since 6 units = 960, then 1 unit = 160. So, 5 units = 5 * 160 = 800.
Selling Price (SP) = Rs. 960, Profit Percentage = 20%
CP=100+Profit%SP├Ч100тАЛ
Use the ratio method: 20% profit means the cost price is 5 parts and selling price is 6 parts. Since 6 units = 960, then 1 unit = 160. So, 5 units = 5 * 160 = 800.
Students often calculate 20% of 960 (which is 192) and subtract it from 960, which gives 768, an incorrect result because profit is calculated on CP, not SP.
Identify given values
Identify the selling price SP=960 and the profit percentage P%=20%.
SP=960,P%=20%
Set up the formula
Use the relation between Cost Price (CP), Selling Price (SP), and Profit percentage to solve for CP.
CP=100+20960├Ч100тАЛ
Perform the calculation
Simplify the fraction: CP=120960├Ч100тАЛ=8├Ч100=800.
CP=800
A is correct because the calculated cost price of the article is Rs. 800.
This concept is the foundation for Simple Interest and Compound Interest problems where the principal acts like the Cost Price.
Get instant step-by-step AI explanations, full shift Previous Year Papers (SSC GD, RRB, SSC JE), and regional rank analysis on the official Examoogle App.
Free Download тАв 100K+ Aspirants