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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%. Find the cost price.
- a)100
- b)150
- c)200
- d)250
- e)300
Correct answer is option 'C'. Can you explain this answer?
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A man sells an article at 5% profit. If he had bought it at 5% less an...
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A man sells an article at 5% profit. If he had bought it at 5% less an...
Given:
Profit percentage = 5%
Gain percentage if bought at 5% less and sold for Re 1 less = 10%
To find:
Cost price of the article
Solution:
Let the cost price of the article be x
Selling price = cost price + profit
Selling price = x + 5% of x
Selling price = 1.05x
If the article was bought at 5% less and sold for Re 1 less, then
New cost price = 95% of x = 0.95x
New selling price = 1.05x - 1
Gain percentage = (New selling price - New cost price) / New cost price * 100
10% = [(1.05x - 1) - 0.95x] / 0.95x * 100
10% = 0.05x / 0.95x * 100
10% = 5.26%
We can see that the gain percentage is not equal to the given 10%
So, our assumption that the article was bought at 5% less is incorrect.
Let us assume that the article was bought at 5% more and sold for Re 1 less
New cost price = 105% of x = 1.05x
New selling price = 1.05x - 1
Gain percentage = (New selling price - New cost price) / New cost price * 100
10% = [(1.05x - 1) - 1.05x] / 1.05x * 100
10% = -0.9524%
Again, the gain percentage is not equal to the given 10%
So, our assumption that the selling price was Re 1 less is also incorrect.
Let us assume that the article was bought at 5% less and sold at 5% less
New cost price = 95% of x = 0.95x
New selling price = 95% of (x + 5% of x) = 0.95 * 1.05x
Gain percentage = (New selling price - New cost price) / New cost price * 100
10% = [0.95 * 1.05x - 0.95x] / 0.95x * 100
10% = 5%
We can see that the gain percentage is equal to the given 10%
So, our assumption is correct.
Therefore, the cost price of the article = 0.95x
Selling price = cost price + profit
1.05x = 0.95x + 5% of x
0.1x = 1/20 * x
x = 200
Hence, the cost price of the article is Rs. 200, which is option (c).
Profit percentage = 5%
Gain percentage if bought at 5% less and sold for Re 1 less = 10%
To find:
Cost price of the article
Solution:
Let the cost price of the article be x
Selling price = cost price + profit
Selling price = x + 5% of x
Selling price = 1.05x
If the article was bought at 5% less and sold for Re 1 less, then
New cost price = 95% of x = 0.95x
New selling price = 1.05x - 1
Gain percentage = (New selling price - New cost price) / New cost price * 100
10% = [(1.05x - 1) - 0.95x] / 0.95x * 100
10% = 0.05x / 0.95x * 100
10% = 5.26%
We can see that the gain percentage is not equal to the given 10%
So, our assumption that the article was bought at 5% less is incorrect.
Let us assume that the article was bought at 5% more and sold for Re 1 less
New cost price = 105% of x = 1.05x
New selling price = 1.05x - 1
Gain percentage = (New selling price - New cost price) / New cost price * 100
10% = [(1.05x - 1) - 1.05x] / 1.05x * 100
10% = -0.9524%
Again, the gain percentage is not equal to the given 10%
So, our assumption that the selling price was Re 1 less is also incorrect.
Let us assume that the article was bought at 5% less and sold at 5% less
New cost price = 95% of x = 0.95x
New selling price = 95% of (x + 5% of x) = 0.95 * 1.05x
Gain percentage = (New selling price - New cost price) / New cost price * 100
10% = [0.95 * 1.05x - 0.95x] / 0.95x * 100
10% = 5%
We can see that the gain percentage is equal to the given 10%
So, our assumption is correct.
Therefore, the cost price of the article = 0.95x
Selling price = cost price + profit
1.05x = 0.95x + 5% of x
0.1x = 1/20 * x
x = 200
Hence, the cost price of the article is Rs. 200, which is option (c).
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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%. Find the cost price.a)100b)150c)200d)250e)300Correct answer is option 'C'. Can you explain this answer?
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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%. Find the cost price.a)100b)150c)200d)250e)300Correct answer is option 'C'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about 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%. Find the cost price.a)100b)150c)200d)250e)300Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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%. Find the cost price.a)100b)150c)200d)250e)300Correct answer is option 'C'. Can you explain this answer?.
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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%. Find the cost price.a)100b)150c)200d)250e)300Correct answer is option 'C'. Can you explain this answer?, a detailed solution for 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%. Find the cost price.a)100b)150c)200d)250e)300Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of 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%. Find the cost price.a)100b)150c)200d)250e)300Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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