Question

David sold a bicycle at a profit of 10% had he sold it for rupees 150 more, the profit would have been 15%. find the cost price of the bicycle​

Answer 1

The cost price was 3,000 rupees.

Explanation:

A profit is an excess of the cost price you bought the bicycle at.

The original cost price as a decimal = 1.0

10% profit in excess of original cost as a decimal = 1+ 0.10 = 1.10

15% profit in excess of original cost as a decimal = 1+0.15= 1.15

And if he sold the bicycle at 150rupees more, he makes 15% profit;

The differential percentage = 15%-10% = 5% or 0.05

If 5% = 150 rupees

then 100% = (100*150)/5

= 15,000/5

= 3,000 rupees

To verify;

At 15% profit it would be = 3000*1.15 =3,450 rupees

At 10% profit , it would be = 3000* 1.10 = 3,300 rupees

Difference = 3,450 -3,300 = 150 rupees

Therefore, the cost price was 3,000 rupees.