Multiple choice

Ravi sold an article to Sudhir at a profit of 6% who in turn sold that to Gopal at a loss of 5%. If Gopal paid Rs. 2,014 for the article, find the cost price of the article for Ravi.

  1. Rs. 2,020

  2. Rs. 2,000

  3. Rs. 1,900

  4. Rs. 2,011
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let the cost price for Ravi be x. Sudhir buys it for 1.06x and sells it to Gopal for 1.06x * 0.95 = 1.007x. Setting 1.007x = 2014, we get x = 2014 / 1.007 = 2000.

AI explanation

Using the successive selling price formula, Gopal's Price = Ravi's Cost Price * 1.06 * 0.95, we set up the equation 2014 = Ravi's Cost Price * 1.007. Dividing 2014 by 1.007 results in a cost price of Rs 2000 for Ravi.

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