A shopkeeper makes a profit of 20% on a lamp. If both its cost price and selling price were Rs. 100 less, the profit would be 25%. What is the cost price?
Correct answer D. Rs. 500
Explanation
Let CP = x. Then 1.2x - 100 = 1.25(x - 100), giving 1.2x - 100 = 1.25x - 125. So 0.05x = 25 and x = Rs. 500.
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