Question : Vishal sells a bag at a profit of 40%. If Vishal's profit is INR 880, then what is the cost price of the bag?
Option 1: INR 2,000
Option 2: INR 2,450
Option 3: INR 1,900
Option 4: INR 2,200
Answer (1)
13th Jan, 2024
Correct Answer: INR 2,200
Solution :
Profit = INR 880
40% of cost price = 880
Cost price = $\frac{880}{0.4}$
= INR 2200
Hence, the correct answer is INR 2,200.
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