Question

A dealer buys a bicycle for 1,250 and marks it at 40% above its cost price
and allows 8% discount, find
(i) Selling pice of the bicycle
(ii) Profit percentage​
step by step answer please​

Answer 1

Correct Question:

A dealer buys a bicycle for 1,250 and marks it at 40% above its cost price

and allows 8% discount, find

(i) Selling price of the bicycle

(ii) Profit percentage

Solution :

(i) Selling price of the bicycle

The cost price of the bicycle = Rs. 1250

Marked Price of the bicycle = cost price + 40% of the cost price.

$marked \: price \: = > 1250 + \frac{(1250 \times 40)}{100}$

⇒ Rs. 1250 +  Rs. 500

Marked price of the bicycle = Rs. 1750

Discount given by the dealer = 8 %

$\frac{(1750 \times 8)}{100}$

Discount = Rs. 140

Selling price of the bicycle = Marked price of the bicycle - Discount

⇒ 1750 - 140

⇒ Selling price of the bicycle = Rs.1610

ii) Profit percentage

Profit = Selling price - Cost price

⇒ 1610 - 1250

Amount of profit = Rs. 360

Profit percentage =

$\frac{(profit \times 100)}{cost \: price \: }$

$= \frac{(360 \times 100)}{1250}$

Profit = 28.8 %

Thanks!