A shopkeeper purchases two old bicycles at 3400
each. He sells one of them at a loss of 5%. At what
price should he sell the other bicycle so that he
earns an overall profit of 8%?
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Answer:
2 old bicycles - $3400
1 old bicycles - ???
loss of 5% - ???
Step-by-step explanation:
1 bicycle
$3400 ÷ 2 = $1700
Loss - 5% x $1700
= 5/100 x $1700
= $85 (loss)
Profit - 8% x $1700
= 8/100 x $1700
= $136
what price should he sell the other bicycle so that he earns an overall profit of 8%?
$1700 + $136 = $1836
He should sell the other bicycle at $1836 so that he earns an overall profit of 8%
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