A dealer buys a bicycle for ₹ 1,250 and marks it at 40% above its cost price. if he allows 8% discount, find.
(1) selling price of the bicycle
(2) Profit percentage
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Answer:
Cost price of the bicycle = Rs. 1250
Marked price of the bicycle = Cost price + 40 % of the cost price
Marked price = 1250 + (1250*40)/100
⇒ Rs. 1250 + Rs. 500
Marked price of the bicycle = Rs. 1750
Discount given by the dealer = 8 %
⇒ (1750*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
Profit = Selling price - Cost price
⇒ 1610 - 1250
Amount of profit = Rs. 360
Profit percentage = (Profit*100)/Cost price
⇒ (360*100)/1250
Profit = 28.8 %
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