Amit sold an article for Rs 630 and earned a profit of 20%. Find the cost price for Amit. Rs 555 Rs 535 Rs 552 Rs 525

The problem states that Amit sold an article for Rs 630 and earned a profit of 20%. We need to find the cost price of the article.

Step 1: Understand that the selling price is made up of the cost price and the profit.

Step 2: Since the profit is 20% of the cost price, we can express the selling price as follows: Selling price = Cost price + 20% of cost price

Step 3: We can also express this equation as follows: Selling price = 1.2 * Cost price

Step 4: We know the selling price is Rs 630, so we can substitute this into the equation: 630 = 1.2 * Cost price

Step 5: To find the cost price, we divide both sides of the equation by 1.2: Cost price = 630 / 1.2

Step 6: Solve the equation to find the cost price: Cost price = Rs 525

So, the cost price for Amit is Rs 525.