A dealer sold a bicycle at a profit of 10 % . Had he brought bicycle at 10 % less price and sold it

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7.Profit and Loss

hard

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 $Rs.\, 60$ more, he would have gained $25 \%$. The cost price of the bicycle was

A

$2600$

B

$2000$

C

$2200$

D

$2400$

Solution

Let $CP =₹ x$

Old $SP =x \times 110 \%$ $…(1)$

New $CP =₹ x \times 90 \%$

New $SP =x \times 90 \% \times 125 \%$ $…(2)$

Difference between new $SP$ and old $SP =60 ₹$

$x \times 90 \% \times 125 \%-x \times 110 \%=60$

$\frac{x \times 11250}{10000}-\frac{x \times 110}{100}=60$

$x\left[\frac{1125-1100}{1000}\right]=60$

$x=\frac{60000}{25}$

$x=Rs. 2400$

Standard 13

Quantitative Aptitude

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