Given:
· A tricycle is sold at a profit of 16%.
· If sold for ₹100 more, the profit would be 20%.
Formula Used: Let the cost price be x
1. Original selling price with 16% profit:
2. Selling Price = x + 0.16x = 1.16x
3. New selling price with 20% profit: 1.16x + 100 = 1.2x
Solution:
1. Solve for : x = 2500
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