The difference between the CP and SP of the article is

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The difference between the CP and SP of the article is ₹ 240. If the profit is 20%, the selling price is ?

1. ₹1440
2. ₹ 1400
3. ₹ 1240
4. ₹ 1200

Correct Option: A

Given, gain% = 20
Different between SP and CP = 240
Now, gain% = [(SP - CP)/ CP] x 100
⇒ 20 = [240/CP] x 100
⇒ CP = 240 x 5
⇒ CP = 1200
∴ SP = 1200 + 240 [∵ SP - CP = 240]
= 1440