Question 61
Sohan purchased an old scooter, and sold it for ₹28,000 thus gaining a 12% profit on the cost price. The cost price of the scooter is:
Solution
Let the cost price of the scooter = C
Profit% = 12%
$$\Rightarrow$$ Selling price of the scooter = $$\frac{112}{100}$$C
Given, Selling price of the scooter = ₹28,000
$$\Rightarrow$$ $$\frac{112}{100}$$C = 28000
$$\Rightarrow$$ C = ₹25,000
$$\therefore\ $$Cost price of the scooter = ₹25,000
Hence, the correct answer is Option C
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