Multiple choice

Sanjay sold a bicycle to Salman at $46\%$ profit. Salman spent Rs. $40$ on repairs and sold it to Sunil for Rs. $1500$. In this deal, Salman made neither profit nor loss. What is the cost price for Sanjay?

  1. Rs. $900$
  2. Rs. $960$
  3. Rs. $1000$
  4. Rs. $1060$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Salman sold the bike for 1500 with no profit or loss, meaning his total cost was 1500. Since he spent 40 on repairs, the purchase price from Sanjay was 1500 - 40 = 1460. Sanjay sold it at 46 percent profit, so 1.46 * Cost = 1460, which gives Cost = 1000.

AI explanation

Since Salman made no profit or loss, his total selling price equals his total cost, so his purchase price from Sanjay plus the Rs. 40 repair equals Rs. 1500. This means Salman's purchase price from Sanjay was 1500 - 40 = Rs. 1460. Sanjay sold the bicycle at a 46% profit, so 1460 represents 146% of Sanjay's original cost price. Dividing 1460 by 1.46 gives Sanjay's cost price of Rs. 1000.

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