A woman sold an item for 1200 and made a 20% profit. What was the cost price?
Q1. A woman sold an item for 1200 and made a 20% profit. What was the cost price?
Answer: 1000
Explanation: Let the cost price be x. Then, x + 20% of x = 1200. So, 1.2x = 1200, and x = 1000.