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If a product is sold for $120 after a profit of 20%, what was the cost price of

Practice Questions

Q1
If a product is sold for $120 after a profit of 20%, what was the cost price of the product?
  1. $80
  2. $90
  3. $100
  4. $110

Questions & Step-by-Step Solutions

If a product is sold for $120 after a profit of 20%, what was the cost price of the product?
  • Profit Calculation – Understanding how to calculate the cost price from the selling price and profit percentage.
  • Percentage Increase – Applying the concept of percentage increase to determine the relationship between cost price and selling price.
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