Rajiv sells a pen at a profit of 5 percent. If he sells for Rs. 36 more, then he earns a profit of 14 percent. What is the cost price of the pen?
Answer & explanation
Correct answer: option 4
First profit = 5%
Second profit = 14%
Difference in rupees between profits = 36
According to the question,
(14 - 5) % of Cost Price = 36
9% of Cost Price = 36
100% of Cost Price = 400