Multiple choice

A TV was sold at a profit of 5%. If it were sold at a profit of 10%, then the profit would have been Rs. 1000 more. What was its cost price?

  1. Rs. 20,000

  2. Rs. 25,000

  3. Rs. 30,000

  4. Rs. 35,000
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A Correct answer
Explanation

Let CP be the cost price. The difference in profit is (10% of CP) - (5% of CP) = 5% of CP. Given this difference is 1000, 0.05 * CP = 1000, so CP = 1000 / 0.05 = 20,000.

AI explanation

The difference between 10% and 5% of the cost price equals the extra profit of Rs. 1000. Thus, 5% of the cost price equals 1000, making the cost price 1000 divided by 0.05, which is Rs. 20,000.

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