Multiple choice

A calculates his profit percentage on the selling price of an article, whereas B calculates his profit percentage on the cost price of the article. If the difference between their profits is Rs.588; the selling price of the article for both of them is the same, and both of them get 28% profit, then the selling price (in Rs.) of the article is:

  1. 8600

  2. 9600

  3. 10200

  4. 5600

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

For A: profit = 28% of SP, so SP - CP = 0.28 × SP, which gives CP = 0.72 × SP. For B: profit = 28% of CP, so SP - CP = 0.28 × CP, which gives SP = 1.28 × CP. Equating the two profit expressions: 0.28 × SP - 0.28 × CP = 588. Substituting CP = 0.72 × SP: 0.28 × SP - 0.28 × 0.72 × SP = 588, which gives 0.28 × 0.28 × SP = 588. Therefore SP = 588/0.0784 = Rs. 9600.