Multiple choice

Harish bought a shirt and sold it at a gain of 5%. If he had bought it at 5% less and sold it for Rs. 1 less, he would have made a profit of 10%. What was the cost price of the shirt?

  1. Rs. 150

  2. Rs. 200

  3. Rs. 250

  4. Rs. 300

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let the cost price be x. Initial selling price is 1.05x. If cost price is 0.95x and selling price is 1.05x - 1, the profit is 10%, so 1.05x - 1 = 1.10 * 0.95x. Solving this gives 1.05x - 1 = 1.045x, which leads to 0.005x = 1, so x = 200.

AI explanation

Let the original cost price be C, so the new cost price is 0.95C and the new selling price is 1.10 times the new cost price, equaling 1.045C. The original selling price is 1.05C, and the difference between the original and new selling price is 1.05C - 1.045C = Rs. 1. Solving 0.005C = 1 gives C = 200, meaning the cost price was Rs. 200.

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