Ravi purchased a bicycle at a certain price and sold his bicycle at 10% loss. If he had sold the bicycle at ₹ 250 more, he would have gained 10% on it. What is the cost price of the bicycle?
Correct Answer : a ) ₹ 1250Explanation :
Let the cost price of the bicycle = ₹ 100x
We know, selling price = cost price ± profit/loss%
Thus, selling price when bicycle was sold at 10% loss will be = 100x – 10% of 100x = 90x
And, selling price when bicycle was sold at 10% profit will be = 100x + 10% of 100x = 110x
According to the question,
110x – 90x = 250
⇒ 20x = 250
⇒ x = 12.5
Therefore, cost price of bicycle was = 100x = 100 * 12.5 = ₹ 1250
Hence, (a) is the correct answer.
Such type of question is asked in various government exams like SSC CGL, SSC MTS, SSC CPO, SSC CHSL, RRB JE, RRB NTPC, RRB GROUP D, RRB OFFICER SCALE-I, IBPS PO, IBPS SO, RRB Office Assistant, IBPS Clerk, RBI Assistant, IBPS RRB OFFICER SCALE 2&3, UPSC CDS, UPSC NDA etc.