Question

By selling a saree for $Rs3000$ the shopkeeper made a profit of $20\%$. what was the cost price of the saree?

Answer 1

Profit = Selling Price(S.P.) - Cost Price(C.P.)

20% of C.P. = S.P. - C.P.

$\Rightarrow$ 0.2 C.P. = S.P. - C.P.

$\Rightarrow$ C.P. = S.P./1.2

$\Rightarrow$ C.P. = 3000/1.2

$\Rightarrow$ $C.P.$ = $Rs.2500$