The difference between the cost price and the selling price of an article is ₹240. If the profit is 20%, then the selling price is:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → ₹1440
The difference between the selling price and the cost price is the profit, and a profit percentage is reckoned on the cost price.
20% of the cost price = ₹240, so the cost price \(\displaystyle=\frac{240\times100}{20}=1200\)
Selling price \(=1200+240=1440\)