A shopkeeper sells a product at Rs. 80 after losing 20%. What is the cost price?
Show answer & explanation
Correct answer: B
Explanation
Given:
Selling Price = ₹80
Loss = 20%
According to the formula:
Selling Price = Cost Price × (100 − Loss %) / 100
80 = Cost Price × 80 / 100
Cost Price = 80 × 100 / 80 = 100
Cost Price = ₹100