Multiple choice

By selling an article, Michael earned a profit equal to one-fourth of the price he bought it. If he sold it for Rs. 375, what was the cost price?

  1. Rs. 281.75

  2. Rs. 300

  3. Rs. 312.50

  4. Rs. 350
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Profit = 1/4 * Cost Price (CP). Selling Price (SP) = CP + Profit = CP + 0.25 * CP = 1.25 * CP. Given SP = 375, then 1.25 * CP = 375, so CP = 375 / 1.25 = 300.

AI explanation

The profit is one-fourth of the cost price, so the selling price is 5/4 of the cost price. Setting up the equation (5/4) * Cost Price = 375 gives the cost price as 375 * 4 / 5. The result is Rs. 300.

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