A man sells an article at 5% above its cost price. If he had bought it at 5% less and sold it for Rs. 2 less, he would have gained 10%. Find the original cost price. MCQ with Answer and Explanation
A man sells an article at 5% above its cost price. If he had bought it at 5% less and sold it for Rs. 2 less, he would have gained 10%. Find the original cost price.
A. Rs. 300
B. Rs. 200
C. Rs. 500
D. Rs. 400
Answer: Option D
Solution (By JKSSB Mock Tests)
Let original CP = x. Original SP = 1.05x. New CP = 0.95x. New SP = 1.05x - 2. New profit is 10% on new CP, so New SP = 1.10 * 0.95x = 1.045x. Equating the two new SPs: 1.045x = 1.05x - 2. Therefore, 0.005x = 2, which gives x = 2 / 0.005 = 400.
No comments yet. Be the first to start the discussion!