Question

Raju sold a bicycle to Amit at 8% profit. Amit repaired it spending Rs 54. Then he sold the bicycle to Nikhil for Rs 1134 with no loss and no profit. Find the cost price of the bicycle for which Raju purchased it.

Answer 1

Let the cost price at which Raju purchased the bicycle be Rs x.

Since, Raju sold the bicycle at 8% profit to Amit. 

∴ Selling price of bicycle for Raju = x + 8% of x

Since, Amit spent Rs 54 on repairing the bicycle and then sold it to Nikhil for Rs 1134, at no loss and no profit.

∴ Selling price of bicycle + repairing cost = Rs 1134

∴ The cost price of the bicycle at which Raju purchased it is Rs 1000.