[Smart Math] Percentages Problem 20

Here’s and example of a SMART MATH problem for PERCENTAGES.

Problem

A bicycle is sold at a profit of 10%. Had it been sold for $10 less, the profit would have been 5% only. What is the cost price of the bicycle?

1. $180
2. $200
3. $220
4. $240
5. $250

The Usual Method

[contentblock id=google-adsense-post]

Let the cost price of the bicycle be $‘x’.

Hence selling price with 10% profit = 1.1x.

But had it been sold for $10 less, profit = 5% only.

Hence, 1.1x – 10 = 1.05x

$200

(Ans: 2)

Estimated Time to arrive at the answer = 30 seconds.

Using Technique

[contentblock id=google-adsense-post]

By reducing $10 from selling price the profit reduces by 5%, hence $10 is equivalent to 5%, so 100% will be equivalent to $200.

(Ans: 2)

Estimated Time to arrive at the answer = 5 seconds.
[starrater tpl=10]

[contentblock id=smartmath-blockquote]