If a shopkeeper sells an item for 120 rupees at a 20% profit, what was the cost price?
Q1. If a shopkeeper sells an item for 120 rupees at a 20% profit, what was the cost price?
Answer: 100 rupees
Explanation: Let's denote the cost price as x. Then, x + 20% of x = 120. So, 1.2x = 120, hence x = 100.