The cost price of 240 articles is the same as the selling price of x articles. If the profit is 20%, find the value of x.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 200.
240CP = xSP
⇒ CP/SP = x/240
Profit = 240 - x
So, [(240 - x)/x] = 20/100 = 1/5
⇒ x = 1200 - 5x
⇒ 6x = 1200
⇒ x = 200
Therefore, the value of x is 200.