Civil Service Exam Reviewer · Simple Interest and Profit/Loss · medium
An item was sold for ₱5,520 at a 20% profit on cost. How much did it cost?
- ₱4,600
- ₱4,416
- ₱5,500
- ₱1,104
Answer
A. ₱4,600
Solution
Cost = SP ÷ 1.2 = ₱5,520 ÷ 1.2 = ₱4,600.
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