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Sohan purchased an old scooter, and sold it for Rs. 28,000 thus gaining a 12% profit on the cost price. The cost price of the scooter is:
1. Rs. 27,000
2. Rs. 30,000
3. Rs. 25,000
4. Rs. 26,000

1 Answer

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Best answer
Correct Answer - Option 3 : Rs. 25,000

Given:

The selling price of the scooter is Rs.28000.

The profit% is 12%.

Formula Used:

CP = 100/(100 + profit%) × SP 

Calculation:

The selling price of the scooter is Rs.28000.

The profit% is 12%.

The CP = 100/(100 + 12) × 28000

⇒ CP = 100/112 × 28000 = 25000

∴ The Cost price of the scooter is Rs.25000.

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