Question

Mr Verma sold his scooter for Rs 1,10,500 at a gain of 5%. Find out the cost price of the scooter.

• A. Rs 10,300
• B. Rs 10,700
• C. Rs 10,000
• D. Insufficient data
• E. None of the above

Answer 1

The correct option is C Rs 10,000

We have, S.P. =Rs 10500, gain % =5%
$\therefore C.P.=\left(\frac{100}{100+Gain\%}\right)\times S.P.=\left(\frac{100}{100+5}\right)\times 10500=\frac{100}{105}\times 10500=Rs10000$