Multiple choice general knowledge

X sells a bicycle to Y at a profit of 30% and Y sells it to Z at a loss of 20%. If Z pays Rs. 520/= for it, at what price did X buy?

  1. Rs. 500/-

  2. Rs. 520/-

  3. Rs. 540/-

  4. Rs. 580/-
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let X's cost price be P. X sells to Y at 30% profit: Y pays P×1.3. Y sells to Z at 20% loss: Z pays P×1.3×0.8 = P×1.04 = Rs. 520. Therefore P = 520/1.04 = Rs. 500. Option A is correct.

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