On selling a bike for Rs. 2500, a seller incurs a loss of 20%. What price would have caused him to lose 30%?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e Rs. 2187.5
| Understanding | Application |
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S.P = Rs. 2500 Let cost price = 100x Selling price = 100x - 20% of cost price = 100x - (20/100) * 100x = 100x - 20x = 80x 80x = Rs 2500 Cost price = 100x = (Rs 2500/80x) * 100x = Rs 3125 |
Now his lose in 30%. Selling Price = Cost Price - 30% of cost Price = Rs 3125 - (30/100) x Rs 3125 = Rs 3125 - Rs 937.5 = Rs 2187.5 |