An article was sold at a loss of 10%. If it was sold at Rs. 90 more, there would have been a gain of 5%. Find the 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.
Explanation:
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.
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