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Question

By selling an item for Rs. 24, the shopkeeper earns the percent profit equal to cost price of the item. Find the cost price of the item.


A

Rs. 120

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B

Rs. 60

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C

Rs. 45

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D

Rs. 20

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Solution

The correct option is D

Rs. 20


Let the cost price be x
Profit on the item is 24x

Profit % = S.PC.PC.P×100

=24xx×100

Given that the profit percentage is equal to the cost price.

24xx×100=x
x2=2400100x
x22400+100x=0
x2+120x20x2400=0
(x+120)(x20)=0
x=120 or 20

Cost price of an item cannot be negative. So, the cost price is Rs. 20


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