Rameshwar sold a bike at a loss of 15%. If the selling price had been increased by ₹3,375, there would have been a gain of 12%. Find the cost price of the bike.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. ₹12,500.
Let the Cost Price (C.P.) = ₹x
Selling Price = 85% of x = 0.85x
After a gain of 12%
Selling Price = 112% of x = 1.12x
⇒ 1.12x - 0.85x = 3375
⇒ 0.27x = 3375
⇒ x = 12500