Question

Stuart sold his bike at 12% profit. Had he charged $150 more, his profit would have been 15%. what is the cost price of his bike

O $4000
O $3600
O $5000
O $4500​

Answer 1

Answer:

wow briliant question

Answer 2

Given,

The profit percentage = 12%

If he charged more $150 then the profit percentage will be 15%.

To find,

The cost price of the bike.

Solution,

Let,the cost price of the bike = $x

(Assume x as a variable to do the further mathematical calculations.)

The profit amount = x × 12/100 = x × 6/50 = x × 3/25 = $ 3x/25

Selling price = x + 3x/25 = $ 28x/25

New selling price = $(28x/25 + 150) .....(1)

New profit = x × 15/100 = x × 3/20 = $ 3x/20

New selling price = (x+3x/20) = $ 23x/20 ....(2)

If we compare (1) and (2) then we will get that,

28x/25 + 150 = 23x/20

23x/20 - 28x/25 = 150

(115x-112x)/100 = 150

3x = 15000

x = 5000

Hence, the cost price of the bike is $5000.