Multiple choice

A product when sold with 10% rebate on the listed price gave a profit of Rs 70 . What was its cost price ?

  1. 200

  2. 350

  3. 700

  4. can not determine
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let MP be the marked price. SP = 0.9 * MP. Profit = SP - CP = 0.9 * MP - CP = 70. We have two variables (MP and CP) and only one equation, so we cannot determine the cost price.

AI explanation

Let the cost price be CP and the listed price be LP. The selling price is 0.90 x LP, and the profit is 0.90 x LP - CP = 70. Because there is only one equation with two unknown variables, CP and LP, the value of CP cannot be uniquely determined.

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