A wristwatch is sold for Rs. 1,200 at a profit percent equal to its cost price. Find the cost price of the wristwatch.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. Rs. 300.
Given that
The selling price (S.P.) of a wristwatch = Rs. 1200
Profit % = Cost price
Let the cost price be 100 units
So, the profit % = 100%
Now, S.P. = 100 + 100 × 100/100 = 100 + 100 = 200 units
So, 200 units = Rs. 1200
1 unit = 1200/200 = Rs. 6
100 units = Rs. 600
Hence, the cost price of the wristwatch is Rs. 600.