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A trader sold a cooler at a loss of 4%. If he sold it for Rs. 1960 more, he would have gained 10%. What is the cost price of the cooler.
1. Rs. 10,000
2. Rs. 12,000
3. Rs. 14,000
4. Rs. 15,000

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Correct Answer - Option 3 : Rs. 14,000

Given

Loss on cooler = 4%

Formula used

Selling price = Cost price - loss

Calculation

Let the cost price is Rs. x

Loss = 4% of x

Selling price = cost price - loss

⇒ x - 4% of x

⇒ 96x/100

According to question 

96x/100 + 1960 = 110x/100

⇒ 1960 = 14x/100

⇒ (1960 × 100)/14 = x

⇒ 14,000 = x

∴ Cost price of cooler is Rs. 14,000

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