CSAT: Cost Price Calculation Quiz

Question

A shopkeeper sells an article for ₹1,500 and gains 20% on the cost price. What is the cost price (CP) of the article?

Accepted Answer

The selling price (SP) of an article is ₹1,500, and the profit is 20% of the cost price (CP). We need to find the CP. The selling price formula is: SP = CP + Profit Profit is 20% of CP, so: Profit = 20% of CP = 0.2 × CP Substitute into the SP formula: SP = CP + 0.2 × CP = 1.2 × CP Given SP = 1,500: 1.2 × CP = 1,500 CP = 1,500 ÷ 1.2 = 1,250 So, the cost price of the article is ₹1,250. Answer: ₹1,250 (Option ✅)

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₹1,100

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₹1,200

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₹1,250

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₹1,300

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