Arithmetic

Profit & Loss

Medium

The difference between cost price (CP) and selling price (SP) of an article is Rs 240. If the profit is 20%, then the selling price is

1400

1440

1200

1240

✅ Correct Option: 2

The difference between CP and SP is Rs 240, and there is a 20% profit.

Since there is a profit, the selling price is greater than the cost price:

$SP - CP = 240$

A profit of 20% means:

Profit $= 20\%$ of CP

Profit $= \dfrac{20}{100} \times CP$

Profit $= 0.2 \times CP$

Since Profit $= SP - CP$ , we have:

$0.2 \times CP = 240$

$CP = \dfrac{240}{0.2}$

$CP = 1200$

Using $SP - CP = 240$ :

$SP = CP + 240$

$SP = 1200 + 240$

$SP = 1440$

Therefore, the selling price is Rs 1440.

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