Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
A bike was sold at a 15% loss. Had it been sold for ₱700 more, there would have been a 20% gain. What was the cost price?
- ₱3,500
- ₱2,000
- ₱4,666.67
- ₱7,000
Answer
B. ₱2,000
Solution
The ₱700 difference equals 15% + 20% = 35% of cost. Cost = ₱700 ÷ 0.35 = ₱2,000.
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