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A cricket bat is sold at at a profit of 15%. Had it been sold for Rs. 640 less, there would have been a loss of 25%. What is the cost price of the cricket bat?

A cricket bat is sold at at a profit of 15%. Had it been sold for Rs. 640 less, there would have been a loss of 25%. What is the cost price of the cricket bat? Correct Answer Rs. 1600

Given:

Profit percent = 15%

Loss percent = 25%

Formula used:

SP =  × CP

SP =  × CP

Where, SP = Selling price, CP = Cost price

Calculation:

Let the CP of cricket bat be Rs. P

SP1 =  × P

⇒ SP1 = 23P/20

Now,

SP2 =  × P

⇒ SP2 = 3P/4

According to the question

SP1 - SP2 = Rs. 640

⇒ (23P/20) - 3P/4) = 640

⇒ = 640

⇒ 8P = 640 × 20

⇒ P = Rs. 1600

∴ The cost price of the cricket bat is Rs. 1600

Additional Information

Profit = SP - CP 

Profit % =  × 100

Loss % =  × 100

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