16 A bicycle agert allows 20% discount on the list price of a bicycle and then marks a profit of 10% or
his outlay what is the least price of the bicycle in the sale of which he gains rupees 40
Answers
Given : A bicycle agent allows 20% discount on the list price of a bicycle and then marks a profit of 10% on his outlay.
To Find : what is the list price of the bicycle in the sale of which he gains rupees 40.
Solution:
Listed price = M
20 % discount = (20/100)M = 0.2M
Sale price = M - 0.2M = 0.8M
Cost Price = C
Profit = 10 %
=> Profit = (10/100)C = 0.1C
Sale price = C + 0.1C = 1.1C
0.1C = 40
=> C = 400
1.1C = 440
0.8M = 440
=> M = 550
List Price = 550
Sale price = 440
Cost price = 400
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