Khan sold his cycle at loss of 8%.had He sold it for 240 more he would have gained 12%. Then cost price is $ 1200 and selling price is $ 1104
Assume the cost price be "a"
So the selling price of cycle = a - 8% of a
[tex]\text { selling price }=a-\frac{8 a}{100}=\frac{23 a}{25}[/tex]
Now according to given, had He sold it for 240 more he would have gained 12%
Selling price + 240 = cost price + 12% profit
[tex]\frac{23a}{25} + 240 = a + \frac{12a}{100}[/tex]
[tex]\frac{23a + 6000}{25} = \frac{100a + 12a}{100}\\\\92a + 24000 = 112a\\\\20a = 24000\\\\a = 1200[/tex]
So the cost price is $ 1200
Now the selling price = [tex]\frac{23a}{25} = \frac{23 \times 1200}{25} = 1104[/tex]
So the selling price is $ 1104
