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Profit, Loss and Discount
A man sold 20 articles for Rs. 60 and gained 20%. How many articles did he buy for Rs. 60?
Correct answer: B
Explanation and memory cue
The man sold 20 articles for Rs. 60 and gained 20%. This means the selling price (SP) of 20 articles is Rs. 60, and the gain is 20%. To find the cost price (CP) of 20 articles, use the formula SP = 1.2 × CP (since gain is 20%). Thus, CP = 60 / 1.2 = Rs. 50 for 20 articles. The cost price per article is Rs. 50 / 20 = Rs. 2.5. With Rs. 60, the number of articles he can buy is 60 / 2.5 = 24 articles. Therefore, the correct answer is option B (24 articles).