Question : By selling an article for Rs. 1,200, a shopkeeper suffered a loss of 20%. What was the cost price of that article?
Option 1: Rs. 1,500
Option 2: Rs. 1,020
Option 3: Rs. 1,000
Option 4: Rs. 1,180
Answer (1)
25th Jan, 2024
Correct Answer: Rs. 1,500
Solution :
If the shopkeeper suffered a loss of 20%, this means the selling price is 80% of the cost price.
Cost Price = $\frac{\text{Selling Price}}{80\%}=\frac{1200}{0.80}$ = Rs. 1500
Hence, the correct answer is Rs. 1,500.
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