A shopkeeper gets 20% profit on selling a box of oranges at ₹ 500. Then, the cost price of the box of oranges is

₹ 400

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₹ 416.67

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₹ 322

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₹ 418.2

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Solution

The correct option is B ₹ 416.67
Given
Selling price of a box of oranges = ₹ 500
Profit percent = 20%

Now,
$S P = \frac{100 + P r o f i t}{100} \times C P$
$500 = \frac{100 + 20}{100} \times C P$
$C P = \frac{5000}{12}$
$C P = ₹ 416.67$

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