New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A shopkeeper sells an item for ₹500. If he had sold it

    for ₹600, his profit would have been 25%. What is the cost price of the item?
    A ₹380 Correct Answer Incorrect Answer
    B ₹400 Correct Answer Incorrect Answer
    C ₹450 Correct Answer Incorrect Answer
    D ₹480 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the cost price be C. Profit percentage is given by: Profit = Selling price - Cost price If selling price is ₹600, the profit would have been 25%. So, Profit = 25% of C = 0.25C. Thus, 600 - C = 0.25C. 600 = 1.25C. C = 600 / 1.25 = ₹480.

    Practice Next