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Question

By selling a book for Rs. 360, 20% profit was earned. What is the CP of the book?

A
Rs. 300
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B
Rs. 200
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C
Rs. 250
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D
cannot be determined
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Solution

The correct option is B Rs. 300
We know that,
SP=CP+Profit
Profit=x%×CP=x100×CP,where x is the percent of profit
So, given SP=360
Profit=20%
Using above equation:-
360=CP+20100×CP
360=CP+CP5
CP=360×56=300
Therefore, CP=300


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