Question 68

The profit earned on selling a bike for ₹68,250 is the same as the loss incurred on selling the bike for ₹47,250. Find the cost price of the bike.

Solution

Let's assume the cost price of a bike is 'CP'.

profit = 68250 - CP Eq.(i)

loss = CP - 47250 Eq.(ii)

As per the information given in the question, Eq.(i) = Eq.(ii).

68250 - CP = CP - 47250

2CP = 68250 + 47250
2CP = 115500

CP = 57750

Cost price of the bike = CP = ₹57750

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