A car is sold for Rs 2,400 at a profit of 20%. What is the CP?a)Rs 2,100b)Rs 2,000c)Rs 1,800d)Rs 2,200Correct answer is option 'B'. Can you explain this answer?

Question

Answer

Answer

Finding the Cost Price (CP) of a Car

Given: Selling price (SP) = Rs 2,400, Profit percentage = 20%

To find: Cost price (CP)

Solution:

Step 1: Calculate the profit earned on the car

Profit percentage = 20%
Profit earned = 20% of CP

We know that,
Profit = SP - CP

Substituting the given values, we get

Profit = 20% of CP
2400 - CP = 20% of CP

Step 2: Simplify the equation and solve for CP

2400 = 1.2CP
CP = 2400/1.2
CP = Rs 2,000

Therefore, the cost price of the car is Rs 2,000.

Answer: Option (b) Rs 2,000

Answer

20% (1/5 ) ON PROFIT

1/6 on sale (2400-2400/6)= 2000

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