A dealer sold a bicycle at a profit of 10%. Had he brought the bicycle at 10% less price and sold it at a price 60 INR more, he would have gained 25%. The cost price of the bicycle was ________
Question
Aptitude Questions:
A dealer sold a bicycle at a profit of 10%. Had he brought the bicycle at 10% less price and sold it at a price 60 INR more, he would have gained 25%. The cost price of the bicycle was ________
Let us assume the bicycle current Price as INR A.
Old Selling Price of the Bicycle = A x 110%.
Now, the new Current Price = A x 90%.
New Selling Price is= A x 90% x 125%.
Difference between new Selling price and Old Selling Price is = 60 INR
=> A x 90% x 125% - A x 110% = 60 => A x 90/100 x 125/100 – A x 110/100 =60
=> A x 11250/10000 – A x 110/100 =60 => A x 11250 – A x 11000 = 60* 10000
=> A x (11250 - 11000) =600000 => A x 250 =600000 => A = 60000/250=> 2400
Hence, A = 2400.
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