A cycle is sold at a gain of 10 percent. That is been sold for rupee 40 more ,the gain would have been 12 percent. Find the cost price
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The cost price of the cycle is Rs 2000
Step-by-step explanation:
Let the Cost price of the cycle be Rs. X
The profit noted was 10%
Hence, Selling price was = x + 10/100 x
= 110x/100
The gain would be 12% if it was sold was Rs 40 more.
Thus, the SP when the cycle shows a 12% profit is = x + 12/100x
= 112x/100
Based on the question:
112x/100 - 110x/100 = 40
(112x -110x)/100 = 40
2x / 100 = 40
2x = 4000
x = 4000/2
= 2000
Thus, the cost of the cycle is Rs 2000
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