A man bought a horse for a certain amount and sold it at a loss of 8%. If he had received Rs.1,800 more, he would have gained 14.5 %. The cost price of the horse is:
Given:
Loss percentage = 8%
Formula Used:
Selling Price = Cost price - loss
Selling Price = Cost price + profit
Solution:
Let the CP of the horse = X
Loss Percentage = 8%
=> SP = X -
According to the given condition,
New Selling Price (SP)1 = SP + 1800
Therefore, the CP of horses = Rs. 8000
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