Rameshwar sold a bike at a loss of 15%. If the selling price had been increased by ₹3,375, there would have been a gain of 12%. Find the cost price of the bike.
- A₹25,100
- B₹25,200
- C₹12,500
- D₹15,200
Solution & Step-by-step Explanation
Let the cost price of the bike be CP.
Initially, the bike is sold at a loss of 15%, so the initial selling price is:
SP
1
=0.85×CP
If the selling price is increased by ₹3,375, the new selling price is:
SP
2
=SP
1
+3375
At this selling price, there is a gain of 12%, so:
SP
2
=1.12×CP
Setting up the equation:
1.12×CP−0.85×CP=3375
0.27×CP=3375
CP=
0.27
3375
=
27
337500
=12500
The cost price of the bike is ₹12,500.
Initially, the bike is sold at a loss of 15%, so the initial selling price is:
SP
1
=0.85×CP
If the selling price is increased by ₹3,375, the new selling price is:
SP
2
=SP
1
+3375
At this selling price, there is a gain of 12%, so:
SP
2
=1.12×CP
Setting up the equation:
1.12×CP−0.85×CP=3375
0.27×CP=3375
CP=
0.27
3375
=
27
337500
=12500
The cost price of the bike is ₹12,500.