Question

Two cars are of the same cost price. One is sold at a profit of $15\%$ and the other for Rs. 23000 more than the first. If the net profit is $20\%$ , find the cost price of each car.

• A. Rs. 280000
• B. Rs. 230000
• C. Rs. 282000
• D. Rs. 327500
• E. Rs. 221970

Answer 1

The correct option is B Rs. 230000

Let the cost price be ‘p’ then

2 (1.15 P) + 23000 = 2 (1.2 P)

0.1 P = 23000

P = Rs.230000

Hence option (b)