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Q.

The difference between the cost price and the sale price of an item is Rs. 240. If the profit percent is 20, what price was the article sold?

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a

Rs.1240

b

Rs. 1340

c

Rs 1440

d

Rs 1540

answer is C.

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Detailed Solution

Concept- Here, we first find the profit made, then apply the profit margin formula to find the cost of the item, and then find the selling price of the item using the given data. Profit margin is the percentage of profit made by selling profit at cost.
The winning percentage formula is given as follows:-

Rs. 240 for the difference between the cost of goods and the selling price and since we know that the gain is given by −
Profit = selling price – cost, Therefore profit = 240Rs
Also, the win rate is listed as 20. So, applying the win percentage formula, we get:

Question Image

On further solving we get:

We know that
Question Image

Question Image

Hence, the correct answer is option (3) .

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