The cost price of 60 articles is same as the selling price of x articles. If there is a profit of 20%, then what is the value of x ?
1). 15
2). 30
3). 50
4). 80
Let the cost price of 1 article be a
Since the profit percent is 20, selling price of 1 article = a + (20/100)a = 1.2a
Given: cost price of 60 articles = selling price of x articles
⇒ 60 × a = x (1.2a)
⇒ x = 60/1.2
∴ x = 50