A man bought a bike and a car for ₹500000. He sold the bike at a gain of 20% and the car at a loss of 10%, thereby gaining 5% on whole. The cost (in ₹) of the bike is:
Answer & explanation
Correct answer: option 2
Price of bike and car = Rs. 500000
Profit on bike = 20%,
Loss car = 5%
Using allegation,
20% (-10%)
5%
15 : 15
Ratio of cost price of bike and car = 15 : 15 = 1 : 1
1 + 1 = 2 unit
2 unit = 5,00,000
1 unit = 2,50,000
Cost of bike is 2,50,000.