Question

A dealer gets ₹940 more if instead of selling a chair at a gain of 15%, it is sold at a gain of 8%. Find the cost price of the cycle..
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Answer 1

Let the CP be ₹ x.

SP at gain of 15% = (100+15)/100× x = 115x/100

SP at gain of 8% = (100+8)/100× x = 108x/100

According to condition,

115x/100-108x/100 = 940

or, (115-108)x/100 = 940

or, 7x/100 = 940

or, 7x = 940×100

or, 7x = 94000

or, x = 9400/7

or, x = 13428.57 (approximately)

Cost Price = ₹ x = ₹ 13428.57

Hence, the cost price of the cycle is ₹ 13428.57.