By selling an item for ₹24, the shopkeeper earns the percent profit equal to cost price of the item. Find the cost price of the item.
Let the cost price be x
Profit on the item is 24−x
Profit % = S.P−C.PC.P×100
Given that the profit percentage is equal to the cost price.
⇒x=−120 or 20
Cost price of an item cannot be negative. So, the cost price is ₹20