Sohan purchased an old scooter, and sold it for ₹28,000 thus gaining a 12% profit on the cost price. The cost price of the scooter is
Answer & explanation
Correct answer: option 1
The selling price of the scooter = 28000
Profit% = 12%
Then the cost price of the scooter = 28000 × \(\frac{100}{112}\) = 25000