A trader marked the price of a car 20% above the cost price and allowed the purchaser 5% discount on the marked price there by gained $8400. Find the cost price of the Bike?  Select the correct option
A) 70000  B) 60500  C) 85000  D) 60000  E) 55000
60000   $60000
<result>D</result>
A trader marked the price of a car 20% above the cost price and allowed the purchaser 5% discount on the marked price there by gained $8400. Find the cost price of the Bike?