Question

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​

Answer 1

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 %