Multiple choice

Mr. Sharma sold his bike to Mr. Kelkar at a loss of 20%. Mr. Kelkar spends Rs. 2,000 on its repair and sells it for Rs. 22,000, thus making a profit of 10%. Then the cost price of the bike for Mr. Sharma is-

  1. Rs. 18,500

  2. Rs. 25,000

  3. Rs. 22,500

  4. Rs. 15,000
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let Sharma's cost price be x. He sells at 20% loss, so Kelkar buys it at 0.8x. Kelkar spends Rs. 2000 on repair, so his total cost is 0.8x + 2000. Kelkar sells at 10% profit: 22000 = 1.1 × (0.8x + 2000). So 0.8x + 2000 = 22000/1.1 = 20000. Therefore 0.8x = 18000, and x = 18000/0.8 = 22500. Sharma's cost price was Rs. 22,500.

Keep practicing — related questions