An article is sold for Rs $960$ at a profit of $20\%$. Its cost price is:

Question

An article is sold for Rs $960$ at a profit of $20\%$. Its cost price is:

Option A

Rs 760

Option B — Correct answer

Rs 800

Correct choice.

Option C

Rs 820

Option D

Rs 840

Explanation

Cost price $=960\div1.2=800$.

Chapter Mock 4: Profit and Loss