1) By selling an article, Michael earned a profit equal to one-fourth of the price he bought it. If he sold it for Rs. 375, what was the cost price ? A) Rs. 281.75 B) Rs. 300 C) Rs. 312.50 D) Rs. 350 E) Rs. 375 Answer: Option BExplanation:S.P $= C.P + \frac{1}{4}C.P = \frac{5}{4}C.P$ $\therefore$ $\frac{5}{4}C.P=375$ $\Rightarrow$ C.P = Rs. $\left(375\times\frac{4}{5}\right)$ = Rs. 300.
