The difference between the selling price and the cost price of an article is ₹500. If the profit percentage is 25%, what is the selling price of the article?
Show answer & explanation
Correct answer: B
Explanation
Given:
Profit = ₹500
Profit percentage = 25%
25 = (500 / CP) × 100
CP = (500 × 100) / 25
CP = 2000
Selling price = CP + profit
= 2000 + 500
= ₹2500