Jacob bought a scooter for a certain sum of money. He spent 10% of the cost on repairs and sold the scooter… · ABC26GN2620
Subject: General Aptitude · Chapter: Profit and Loss
Jacob bought a scooter for a certain sum of money. He spent 10\% of the cost on repairs and sold the scooter for a profit of ₹ 1100. How much did he spend on repairs if he made a profit of 20\%?
(a)₹ 400
(b)₹ 440
(c)₹ 500
(d)₹ 550
Answer
Answer (as printed): C
Explanation
Let the C.P. be ₹ $x$. Then, $20 \%$ of $x=1100 \Rightarrow \frac{20}{100} \times x=1100 \Rightarrow x=5500$. C.P. $=₹ 5500$, Expenditure on repairs $=10 \%$. Actual price $=₹\left(\frac{100}{110} \times 5500\right)=₹ 5000$. ∴ Expenditure on repairs $=₹(5500-5000)=₹ 500$.
Explanation as extracted from the printed page; notation may be imperfect.