P sold his bicycle to Q at a profit of 10%. Q sold it to R for N209 at a loss of 5%. How much did the bicycle cost P?
A. N200 B. N196 C. N180 D. N205 E. N150
Correct Answer: A
Explanation
Let the selling price(SP from P to Q be represented by x i.e. SP = x When SP = x at 10% profit CP = \(\frac{100}{100}\) + 10 of x = \(\frac{100}{110}\) of x when Q sells to R, SP = N209 at loss of 5% Q's cost price = Q's selling price CP = \(\frac{100}{95}\) x 209 = 220.00 x = 220 = \(\frac{2200}{11}\) = 200 = N200.00
