Question

An article is sold at a profit of 5%.If it was sold for $250 more, the gain would have been 10%. Find the CP of the article.

Answer 1

Let Cost Price of the item is x

so With 5% Profit our Sale Price is 105x/100

With 10% Profit our Sale Price is 110x/100

Now Difference of both profit is 250$
So
110x/100 - 105x/100 = 250$

5x/100 = 250
x = (250×100)/5
So x = 5000$

or

Difference of both profit is (10% - 5%) 5% and 250$
if 5% is 250$
then 1% is 250/5 = 50$
So 100% is 50×100 = 5000$

I hope it will help you.