Multiple choice

Marcus owns a refrigerator shop. He sold two refrigerators at \$1,000 each. He sold one refrigerator at 15% profit. What was the cost price of the other refrigerator if he had bought it at \$250 less than the cost price of the first refrigerator?

  1. $421
  2. $519.5
  3. $618.8
  4. $619.6
  5. $629.6
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let C1 be the cost of the first refrigerator. Selling price = 1000, profit = 15%, so 1.15 * C1 = 1000, C1 = 1000/1.15 = 869.56. The second refrigerator cost C2 = C1 - 250 = 619.56. Selling price of second is 1000.

AI explanation

Using the formula for cost price based on profit percentage, the cost price of the first refrigerator is 1000 divided by 1.15, which equals approximately \$869.6. The second refrigerator was bought for \$250 less than this amount, so its cost price is 869.6 minus 250, which equals \$619.6. Since this cost price is given directly by the problem conditions, the cost price of the other refrigerator is \$619.6.

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