Problem: An item was sold at 5% profit. If the cost was 5% less and the selling price was Tk. 5 less, then the trader would have made a profit of 10% on cost. What was the cost of the item?
View all: NCC BANK LTD | WRITEN QUESTION(MATH) | 2002
Correct Answer: 1000 TK
Explanation:
Let, cost of the item Tk. 100
At 5% profit, the selling price = 100 + 5 = 105 Tk.
At 5% less, cost = 100 — 5 = 95 Tk.
At 10% profit, the selling price = 95 + 10% of 95= 95 + 9.5 = 104.5 Tk.
So,Selling price difference is Tk. 0.5 when previous cost = 100 Tk.
Selling price difference is Tk. 5 when previous cost = $\frac{100×5}{0.5}$= 1000 Tk.
