Question : The profit earned by a shopkeeper by selling a bucket at a gain of 8% is Rs. 28 more than when he sells it at a loss of 8%. The cost price (in Rupees) of the bucket is:
Option 1: 170
Option 2: 190
Option 3: 175
Option 4: 165
Correct Answer: 175
Solution :
Let the cost price of the bucket be Rs. $x$.
Given that the profit earned by selling a bucket at a gain of 8% is Rs. 28 more than when he sells it at a loss of 8%.
$⇒1.08x = 0.92x + 28$
$⇒x = \frac{28}{0.16} = 175$
Hence, the correct answer is 175.
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