.a shopkeeper has got 20% profit on sale of bicycle at labeled price but ge will gain only rs 180 if he gives 5% discount. what was the cost price

Statement of the given problem,

A shopkeeper made 20% profit on selling a bicycle at the labelled price but he would gain only Rs. 180 when 5% discount was allowed. What was the cost price of the bicycle?

Let C & M denote the required cost price & marked price respectively of the given bicycle.

Hence from above data we get following relations,

M = (1 + 20/100)*C

or M = (6/5)*C

(1 - 5/100)*M = 180 + C

or (19/20)*M = 180 + C

or (19/20)*(6/5)*C = 180 + C

or (57/50)*C - C = 180

or (7/50)*C = 180

or C = (50/7)*180 = 1285.71

step-by-step explanation: