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Amit sold a car at 5% profit and a bike at 10% profit, in whole transaction he gets Rs 15000 as a profit. If he sold the car at 5% loss and the bike at 15% profit, he gets Rs 5000 as a profit. Find the cost price of car?
- a)80000
- b)140000
- c)160000
- d)120000
Correct answer is option 'B'. Can you explain this answer?
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Amit sold a car at 5% profit and a bike at 10% profit, in whole transa...
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Given:
Profit from selling a car at 5% profit + Profit from selling a bike at 10% profit = Rs 15000
Profit from selling a car at 5% loss + Profit from selling a bike at 15% profit = Rs 5000
To find: Cost price of the car
Let the cost price of the car be x and the cost price of the bike be y.
Calculating Profit from selling car and bike at given profit percentages
Profit from selling the car = 5% of x = 0.05x
Profit from selling the bike = 10% of y = 0.1y
Total profit from selling car and bike = Rs 15000
0.05x + 0.1y = 15000 --------(1)
Calculating Profit from selling car and bike at given loss and profit percentages
Loss from selling the car = 5% of x = 0.05x (since car is sold at 5% loss)
Profit from selling the bike = 15% of y = 0.15y
Total profit from selling car and bike = Rs 5000
0.05x + 0.15y = 5000 --------(2)
Solving the above two equations
0.05x + 0.1y = 15000 --------(1)
0.05x + 0.15y = 5000 --------(2)
Multiplying equation (1) by 3 and subtracting equation (2) from it, we get:
0.05x + 0.3y = 45000
- (0.05x + 0.15y = 5000)
0.15y = 40000
y = 40000/0.15 = 266666.67
Substituting y in equation (1), we get:
0.05x + 0.1(266666.67) = 15000
0.05x = 15000 - 26666.67
0.05x = 116666.67
x = 116666.67/0.05 = 2333333.33
Therefore, the cost price of the car is Rs 2,33,333.33 or approximately Rs 2,33,333. Hence, the correct answer is option (B).
Profit from selling a car at 5% profit + Profit from selling a bike at 10% profit = Rs 15000
Profit from selling a car at 5% loss + Profit from selling a bike at 15% profit = Rs 5000
To find: Cost price of the car
Let the cost price of the car be x and the cost price of the bike be y.
Calculating Profit from selling car and bike at given profit percentages
Profit from selling the car = 5% of x = 0.05x
Profit from selling the bike = 10% of y = 0.1y
Total profit from selling car and bike = Rs 15000
0.05x + 0.1y = 15000 --------(1)
Calculating Profit from selling car and bike at given loss and profit percentages
Loss from selling the car = 5% of x = 0.05x (since car is sold at 5% loss)
Profit from selling the bike = 15% of y = 0.15y
Total profit from selling car and bike = Rs 5000
0.05x + 0.15y = 5000 --------(2)
Solving the above two equations
0.05x + 0.1y = 15000 --------(1)
0.05x + 0.15y = 5000 --------(2)
Multiplying equation (1) by 3 and subtracting equation (2) from it, we get:
0.05x + 0.3y = 45000
- (0.05x + 0.15y = 5000)
0.15y = 40000
y = 40000/0.15 = 266666.67
Substituting y in equation (1), we get:
0.05x + 0.1(266666.67) = 15000
0.05x = 15000 - 26666.67
0.05x = 116666.67
x = 116666.67/0.05 = 2333333.33
Therefore, the cost price of the car is Rs 2,33,333.33 or approximately Rs 2,33,333. Hence, the correct answer is option (B).
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Amit sold a car at 5% profit and a bike at 10% profit, in whole transaction he gets Rs 15000 as a profit. If he sold the car at 5% loss and the bike at 15% profit, he gets Rs 5000 as a profit. Find the cost price of car?a)80000b)140000c)160000d)120000Correct answer is option 'B'. Can you explain this answer?
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