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Question
A second hand bike was sold at ₹66000, at a loss of ₹5000. What is the cost price of the bike?
A second hand bike was sold at ₹66000, at a loss of ₹5000. What is the cost price of the bike?
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Solution
The correct option is C ₹71000
Given that Selling Price (SP) = ₹66000 and loss = ₹5000.
We know that loss is calculated as:
Loss = CP - SP
∴ CP = SP + Loss
= ₹66000 + ₹5000
= ₹71000
Thus, the cost price of the bike is ₹71000.
₹71000
Given that Selling Price (SP) = ₹66000 and loss = ₹5000.
We know that loss is calculated as:
Loss = CP - SP
∴ CP = SP + Loss
= ₹66000 + ₹5000
= ₹71000
Thus, the cost price of the bike is ₹71000.
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