Question

A shopkeeper allows $20\%$ discount on his goods and still earns a profit of $20\%$. If an article is sold for $Rs360$, find:
the cost price.

Answer 1

Given that,

Profit $=20$%

Selling price $100+20=120$%

$120$%=$Rs.360$

$1$%=$360÷120=Rs.3$

$100$%=$3\times 100=Rs.300$

Then,

We get Cost price is $Rs.300$