Multiple choice

An article is sold at a gain of 15%. Had it been sold for Rs 27 more, the profit would have been 20%. The cost price of the article is-

  1. Rs 500

  2. Rs 700

  3. Rs 540

  4. Rs 545
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let CP be x. At 15% gain, SP = 1.15x. At 20% gain, SP = 1.20x. The difference is Rs 27, so 1.20x - 1.15x = 27, which gives 0.05x = 27, so x = 27/0.05 = 540. The cost price is Rs 540.

Keep practicing — related questions