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Himanshu sells a cycle to Vaibhav at a profit of 10%, Vaibhav sells to Ashish at a profit of 20%. If Ashish pays Rs. 264 for it, how much did Himanshu pay for it?

Himanshu sells a cycle to Vaibhav at a profit of 10%, Vaibhav sells to Ashish at a profit of 20%. If Ashish pays Rs. 264 for it, how much did Himanshu pay for it? Correct Answer Rs. 200

Given 

Himanshu sells a cycle to vaibhav at profit = 10% 

Vaibhav sells a cycle to Ashish at profit = 20%

Formula Used

Selling price = (cost price/100) × (100 + profit%) 

Calculation

Let the CP of cycle for Himanshu is z ,

⇒ z × 110/100 × 120/100 = 264

⇒ z = 264 × 100 / 11 × 12 

⇒ z = Rs. 200 

∴ Himanshu pay for cycle is Rs. 200

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