The profit earned on selling a bike for ₹68,250 is the same as the loss incurred on selling the bike for ₹47,250. Find the cost price of the bike.
Answer & explanation
Correct answer: option 4
When the profit earned on selling the product and loss earned on selling the product is same then the cost price will be the mean of both the selling price.
First selling price with profit = 68,250
Second selling price with loss = 47,250
Then the cost price = \(\frac{68,250 + 47,250}{2}\) = 57750