Question

A tricycle is sold at a gain of $15\%$. Had it been sold for$Rs108$ more the profit would have been$20\%$. Find its cost price.

Answer 1

Assume the cost of the tricycle to be$x$.

It is sold at a gain of $15\%=\frac{15x}{100}.$

If it was sold for$Rs108$, the profit would be$20\%=\frac{20x}{100}.$

$$\begin{gathered} \left[\frac{20x}{100}\right]–\left[\frac{15x}{100}\right]=108 \\ \frac{5x}{100}=108 \\ 5x=10800 \\ x=2160 \end{gathered}$$

Hence, the cost price of the tricycle $=Rs.2160.$