A shopkeeper makes a 20% profit on an article whose cost price is ₹250. What is the selling price of the article?
Show answer & explanation
Correct answer: B
Explanation
Given:
Cost Price (CP) = 250
Profit = 20%
According to the formula:
Profit = (CP × Percentage) / 100
SP = CP + Profit
Profit = (250 × 20) / 100 = 50
SP = 250 + 50 = ₹300