Multiple choice

If an article is sold at a gain of 10% instead of a loss of 10%, then the seller gets $1 more. Find the cost price of the article.

  1. $5
  2. $3
  3. $4
  4. $2
  5. $6
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A Correct answer
Explanation

Let CP be x. Selling at 10% gain is 1.1x, selling at 10% loss is 0.9x. The difference is 1.1x - 0.9x = 0.2x. Given 0.2x = 1, so x = 5.

AI explanation

Let the cost price of the article be C; selling at a 10 percent gain sets the price at 1.10C, while a 10 percent loss sets it at 0.90C. The difference between these two selling prices is \$1, so 1.10C - 0.90C = 1.00. This gives 0.20C = 1, meaning the cost price is \$5.

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