Question

The difference between the cost price and sale price of an article is \rupee240. If the profit is 20%, the selling price is:

• A. \rupee1240
• B. \rupee1340
• C. \rupee1400
• D. \rupee1440

Hint:

For profit/loss problems, use the formula: Selling Price = Cost Price × \( \left(1 + \frac{\text{Profit%}}{100}\right) \)

Answer 1

The Correct Option is D

Step 1: Let the cost price (CP) be \rupee\( x \).
Given profit is 20%, so selling price (SP) is: \[ \text{SP} = x + 0.2x = 1.2x \] Step 2: Difference between SP and CP is \rupee240.
\[ 1.2x - x = 240 \Rightarrow 0.2x = 240 \Rightarrow x = \frac{240}{0.2} = 1200 \] Step 3: Calculate SP.
\[ \text{SP} = 1.2 \times 1200 = 1440 \] Thus, the selling price is \rupee1440.