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A man sold a tricycle and earned a profit of 15%. If the tricycle had been sold for ₹108 more, he would have earned a profit of 20%. What will be its cost price?

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answer is C.

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Detailed Solution

Given that, a man sold a tricycle and earned a profit of 15% and when the tricycle had been sold for ₹108 more, he would have earned a profit of 20%.
We have the following formulas,
S.P=selling price.
C.P=cost price.
Profit=S.P-C.P

G a i n % = S . P − C . P C . P × 100

Loss=C.P-S.P

L o s s % = C . P − S . P C . P × 100

Let the C.P of the tricycle be ‘a’.
Therefore, S.P of the tricycle at a gain of 15% is,

= 100 + 15 100 × a = 115100 a

The S.P of the tricycle at a gain of 20% is,

= 100 + 20 100 × a = 120100 a

The C.P of the tricycle is,

⇒ 120100 x − 115100 x = 108 ⇒ 5 x 100 = 108 ⇒ x 20 = 108 ⇒ x = 2160

The C.P of the tricycle is Rs 2160.
Therefore, the correct option is 3.

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