Question : A man sells a good at 5% profit. If he had sold it at a 10% profit, he would have received INR 175 more. What is the selling price of the good?
Option 1: INR 3,750
Option 2: INR 3,850
Option 3: INR 3,675
Option 4: INR 3,500
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Correct Answer: INR 3,675
Solution :
Let the cost price be Rs. $x$.
As per the given conditions,
$\frac{105x}{100}+175=\frac{110x}{100}$
⇒ $\frac{5x}{100}=175$
$\therefore x=3500$
Now, selling price = $\frac{105x}{100} = 3500\times \frac{105}{100}=3675$
Hence, the correct answer is INR 3,675.
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