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Rajesh bought a scooter for ₹21,000. he sold it to Umesh at a loss of 5%. Umesh spent ₹2450 on the repairs and sold the scooter to Praveen at a profit of 8%. How much did Praveen pay for the scooter?

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Hint- This question is based on chapter profit and loss. So first we will calculate the selling price of the scooter for Rajesh. The cost price of Umesh will be the selling price of rajesh plus repairing cost. Finally we will calculate the selling price of scooter for Umesh which is also the cost price for Praveen.

Complete step-by-step answer:

According to question-

C. P. of Rajesh = 21000

% loss = $\dfrac{{{\text{loss}}}}{{{\text{CP}}}} \times 100$

 loss = $\dfrac{{{\text{% loss}}}}{{{\text{100}}}}\times CP$

        = $\dfrac{{\text{5}}}{{{\text{100}}}}\times 21000$

        = 1050

SP of Rajesh =21000-1050

                      = 19950

Again, cp for Umesh = 19950 +2450= 22400

SP for Umesh = 22400 + $\dfrac{{\text{8}}}{{{\text{100}}}}\times 22400$

                        = 22400 + 1796

                        = 24196

Hence Praveen pays Rs .24196.

Note- You should remember the given formula while solving problems on profit and loss:

1. SP = CP +Profit

2. SP = CP – loss

3. % Loss = $\dfrac{{{\text{loss}}}}{{{\text{CP}}}} \times 100$

4. % Gain = $\dfrac{{{\text{Gain}}}}{{{\text{CP}}}} \times 100$.