A man sold his bike for Rs.25,000 at 25% profit. At what price would it he have sold if he had incurred a loss of 15%?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e Rs.17,000
| Understanding | Application |
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We will use the basic idea of profit and loss using cost price and selling price. Selling price = Multiplying factor × cost price |
Let the cost price of the bike be 'x' We have given that ⇒ 1.25 × (x) = 25,000 ⇒ x = Rs. 20,000 If he faces a loss of 15% the selling price would be = (0.85) × 20,000 ⇒ 17,000 |