The profit earned by a shopkeeper by selling a bucket at a gain of 8% is Rs 28 more than when he sells it at a loss of 8%. The cost price (in Rupees) of the bucket is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 175
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Understanding |
Application |
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Suppose the cost price of the bucket = Rs. X The profit earned by a shopkeeper by selling a bucket at a gain of 8% is Rs. 28 more than when he sells it at a loss of 8%. |
So, 1.08X = 0.92X + 28 ⇒ 0.16X = 28 ⇒ X = 175 Hence, Cost price of bucket = Rs. 175 |