A sells a bike to B at 45% profit. Then B sells it to C at 30% profit. If C pays ₹43,355, then what is the cost price of the bike for A?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. ₹23,000.
Let the cost price of bike for A be 100x.
Profit for A = 45% while selling the bike to B
CP of B = 145% of 100x
⇒ CP of B = 145x
Now, profit of B = 30% while selling bike to C
CP of C = 130% of 145x
⇒ CP of C = 188.5x
Given that, CP of C = ₹43,355
Putting the value in the above equation,
⇒ 43,355 = 188.5x
⇒ x = 230
CP of A = 100x
⇒ 230 × 100 = 23000
Hence the cost price of A is ₹23,000.