Question : Rajiv sells a pen at a profit of 5 percent. If he sells the pen for Rs. 36 more, then he earns a profit of 14 percent. What is the cost price of the pen?
Option 1: Rs. 300
Option 2: Rs. 600
Option 3: Rs. 400
Option 4: Rs. 500
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Correct Answer: Rs. 400
Solution :
Let the cost price of the pen be Rs. $x$.
Selling price after 5% profit = $x+\frac{5}{100}x=1.05x$
Selling price after 14% profit = $x+\frac{14}{100}x=1.14x$
According to the question,
$1.05x+36=1.14x$
⇒ $0.09x=36$
⇒ $x=400$
Hence, the correct answer is Rs. 400.
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