Question

On selling a bicycle for Rs. 2160,Vasantrao made a profit of 8 percent. What was the cost price of the bicycle.

Answer 1

Hello friend
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=) In example

Here,SP = Rs 2160,

Profit= 8 percent

Therefore when cost price is 100,selling price is 100+8 =108.

Suppose the cost of the bicycle is Rs.X

Hence,

Ratio of cost prices = ratio of selling prices

: X/ 100 = 2160/108

: x = 2160/108*100........(Multiplying both sides by 100)

= 2000

Therefore the cost price of bicycle= Rs 2000.