The difference between the cost price and the selling price of an article is ₹1,800. If there is a profit of 20%, then the cost price of the article is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. ₹9,000.
Given that
Difference between cost price and selling price = 1800
Profit gained = 20 percent
Formula used
Profit percentage = × 100
According to the question
20 = × 100
⇒ C.P = 1800 × 5 = 9000
Hence, the cost price of the article is ₹9,000.