A toy car sold at a gain of 16%. Has it been sold for rupees hundred more the gain would have been 20%. Find the cost price of the car
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Previous Gain = 16 %
When it is sold for 100 rupees more, the profit becomes 20 %
That means 4% of the cost is 100
Therefore cost of the toy = 2500
When it is sold for 100 rupees more, the profit becomes 20 %
That means 4% of the cost is 100
Therefore cost of the toy = 2500
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