A used two-wheeler dealer sells a scooter for Rs.46,000 and makes some loss. If he had sold it for Rs.58,000 his profit would have been double his loss. What was the cost price (in Rs.) of the scooter?Options52000480005000054000
Question
A used two-wheeler dealer sells a scooter for Rs.46,000 and makes some loss. If he had sold it for Rs.58,000 his profit would have been double his loss. What was the cost price (in Rs.) of the scooter?Options52000480005000054000
Solution
Let's denote the cost price of the scooter as 'x'.
According to the problem, the dealer sells the scooter for Rs.46,000 and makes a loss. This means that the cost price 'x' is more than Rs.46,000. We can express this loss as 'x - 46,000'.
The problem also states that if the dealer had sold the scooter for Rs.58,000, his profit would have been double his loss. The profit in this case can be expressed as '58,000 - x'.
Since the profit is double the loss, we can set up the following equation:
2(x - 46,000) = 58,000 - x
Solving this equation will give us the cost price 'x' of the scooter.
First, distribute the 2 on the left side of the equation:
2x - 92,000 = 58,000 - x
Then, add 'x' to both sides of the equation:
3x - 92,000 = 58,000
Next, add 92,000 to both sides of the equation:
3x = 150,000
Finally, divide both sides of the equation by 3 to solve for 'x':
x = 50,000
So, the cost price of the scooter is Rs.50,000.
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