Question

A tricycle is sold at a gain of 15% .Had it been sold for 108 more, the profit would have been 20% . find its cost price.

Answer 1

let the cost price be Rs. x

CP = x
Profit = 15%
first SP = CP × 100+P%/100
= 115x/100

CP = x
Profit = 20%
second SP = CP × 100+P%/100
= 120x/100

According to the question,

Second SP - First SP = Rs. 108
120x/100 - 115x/100 = 108
5x/100 = 108
x = 108×100/5 = Rs. 2160

CP = Rs. 2160