Question

A man sells an article at 5% above its cost price he had bought it at 5% less than what he paid for and sold it for Rs.2 less, he would have gain 10%. Find the cost price of the article.

• A. Rs. 500
• B. Rs. 360
• C. Rs. 425
• D. Rs. 400

Answer 1

The correct option is D Rs. 400

Let the cost price of the article = Rs. x
Price when it is bought at 5% less than cost price
$=x-x\times \frac{5}{100}=\frac{5}{100}=\frac{95}{100}x$
Selling price when it is sold for Rs. 2 less
$=x+x\times \frac{5}{100}-2=\frac{105}{100}x-2Given,\frac{105}{100}x-2-\frac{95}{100}x=\frac{95}{1000}x\times \frac{10}{100}\Rightarrow \frac{10}{100}x-2=\frac{95}{1000}x\therefore x=\frac{2\times 1000}{5}=Rs.400$