An article is sold for a loss of Rs. 120. Loss percentage is 40 percent. What is the cost price of the article?
Show answer & explanation
Correct answer: A
Explanation
Given:
Loss = ₹120
Loss % = 40%
According to the formula:
Loss % = (Loss / Cost Price) × 100
40 = (120 / CP) × 100
CP = (120 × 100) / 40
= ₹300