Multiple choice

Shyam sold an article to Sudhir at a profit of 6%, who in turn sold that to Atul at a loss of 5%. If Atul paid Rs. 2014 for the article, find the cost price of the article for Shyam.

  1. Rs. 2020

  2. Rs. 2000

  3. Rs. 1900

  4. Rs. 1550
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let CP = x. After 6% profit, price = 1.06x. After 5% loss, price = 1.06x * 0.95 = 1.007x. 1.007x = 2014. x = 2014 / 1.007 = 2000.

AI explanation

Using the successive selling price formula, the final price equals the initial cost price multiplied by 1.06 and then by 0.95. This means 2014 equals the initial cost price times 1.007. Dividing 2014 by 1.007 gives the initial cost price of Rs 2000.

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