Question

A man sold a bicycle at 5 percent profit. If the cost price had been 30 percent less and the selling price ₹63 less he would have made a profit of 30 percent. What was the cost price of the bicycle

Answer 1

Solution :-

Let the cost price be Rs. 100.

Gain = 5 %

Selling price = 100 + 5 % of 100

S.P. = Rs. 105

If the C.P. had been 30 % less then,

Supposed C.P. = Rs. 70

Gain = 30 %

S.P. = 70 + 30 % of 70

= 70 + 21

New S.P. = Rs. 91

Difference between old S.P. and new S.P. = 105 - 91

= Rs. 14

If the difference is Rs. 14 then the C.P. = Rs. 100

If the difference is Rs. 1 then the C.P. = 100/14

If the difference is Rs. 63 then the C.P. will be = (100×63)/14

Cost Price = Rs. 450

Hence, the cost price of the bicycle is Rs. 450

Answer.