Multiple choice

Ramesh bought a table at a certain amount. He sold the table at 15% profit. If he had bought the table for Rs.500 less, then the profit would have been Rs.2000. What is the cost price of the table?

  1. Rs.5000

  2. Rs.8000

  3. Rs.10000

  4. Rs.12000

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

Let CP be x. SP = 1.15x. If CP was x-500, profit is 2000, so SP = x-500+2000 = x+1500. Equating the SP: 1.15x = x+1500, so 0.15x = 1500, x = 10000.

AI explanation

Let the original cost price be CP and the selling price be SP. The first equation is SP = 1.15CP. If the table cost Rs. 500 less, the new cost is (CP - 500), and the profit of Rs. 2000 means the selling price is also (CP - 500) + 2000 = CP + 1500. Equating the two gives 1.15CP = CP + 1500, which results in 0.15CP = 1500, making the original cost price Rs. 10000.

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