Multiple choice

A shopkeeper bought a chair at a fixed price from a manufacturer. He sold the chair in his shop at a P% profit. If he had bought a chair at a 20% lower price from the manufacturer and sold the item at (P + 5)% profit, the difference between the two selling prices of the chair would have been Rs. 357. If the new selling price is Rs. 1768, find the original cost price.

  1. 1500

  2. 1700

  3. 1850

  4. 1750

  5. None of these

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

B is correct. Let original CP = 1700 and P = 25%. Original SP = 1700 × 1.25 = 2125. New CP = 0.8 × 1700 = 1360. New SP at (25+5)% = 1360 × 1.30 = 1768. Difference = 2125 - 1768 = 357, which matches given condition. Other CP values (1500, 1750, 1850) don't satisfy both equations simultaneously.