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If 5% more is gained by selling an article for Rs. 350 than by selling it for Rs. 340, the cost of the article is:________?

Correct answer: C. Rs. 200

  • A. Rs. 50
  • B. Rs. 160
  • C. Rs. 200
  • D. Rs. 225

Explanation

The selling prices differ by 350 Rs - 340 Rs = 10 Rs, which represents 5% of the cost price. Therefore, 0.05 x cost price = 10 Rs, so cost price = 10 Rs / 0.05 = 200 Rs. Students may choose 160 Rs by treating 5% as a percentage of one selling price rather than of the cost price.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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