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Question

A man sold an article for Rs. 2400 thus making a profit of 20%. Find the cost price of the article.

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Solution

Given that,
A man sold an article for Rs. 2400 and made a profit of 20%.
To find out,
The cost price of the article.

Let the cost price of the article be Rs. x
We know that, C.P.=100×S.P.100+profit%

Here, S.P.=Rs. 2400 and profit%=20

Hence, C.P.=100×2400100+20

=240000120

=Rs. 2000

Hence, the cost price of the article was Rs. 2000.

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