Question

Ramu sold a plot of land for $Rs2,40,000$ gaining $20$. For how much did he purchase the plot?

Answer 1

Here,

$S.P.$ of the plot of land $=Rs.240000$

Profit$\%$ $=20\%$

Therefore,

$C.P.$ of the plot of the land $=240000\times \frac{100}{120}$

$=Rs.200000$

Thus, Ramu purchased the plot of the land for $Rs.200000$.