Question 68

A man sells an article at 5% profit. If he had bought it at 5% less and sold it for Re. 1 less, he would have gained 10%. The costprice of the article is

Solution

Let cost price of the article = Rs. $$100x$$

Selling price after 5 % profit = Rs. $$105x$$

Now, new cost price = Rs. $$95x$$

and new selling price = Rs. $$(105x-1)$$

=> Profit % = $$\frac{105x-1-95x}{95x}\times100=10$$

=> $$\frac{10x-1}{95x}=\frac{1}{10}$$

=> $$100x-10=95x$$

=> $$x=\frac{10}{5}=2$$

$$\therefore$$ Cost price = Rs. 200

=> Ans - (A)

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