Civil Service Exam Reviewer · Simple Interest and Profit/Loss · hard
A bike was sold at a 20% loss. Had it been sold for ₱1,440 more, there would have been a 25% gain. What was the cost price?
- ₱5,760
- ₱3,200
- ₱7,200
- ₱14,400
Answer
B. ₱3,200
Solution
The ₱1,440 difference equals 20% + 25% = 45% of cost. Cost = ₱1,440 ÷ 0.45 = ₱3,200.
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