Multiple choice

The difference between the selling prices of an article sold at 4% and 3% profits is Rs.3. The cost price of the article is ?

  1. 400

  2. 350

  3. 300

  4. 100
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let cost price be C. Selling price at 4% profit is 1.04C, at 3% profit is 1.03C. Difference: 1.04C - 1.03C = 0.01C = Rs.3. Therefore C = 3/0.01 = Rs.300. The 1% difference in profit equals Rs.3, so cost price is Rs.300.

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