Question

Cost of an old bicycle was Rs.1700 and Rs.300 were spent on its repair.if it is sold for a profit of 20%
then find selling price of bicycle?​

Answer 1

Answer:

Cost price of the cycle = Rs. 1200

Selling price of the cycles = Rs. 1500

SP > CP ⇒ there is a gain.

⇒ Gain = SP - CP = 1500 - 1200 = Rs. 300

∴ Gain Percentage = CPGain(100)%

=1200300(100)%=25%

∴ The shopkeeper makes a profit of 25%

Answer 2

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Cost of an old bicycle was Rs.1700 and Rs.300 were spent on its repair. If it is sold for a profit of 20% then find selling price of bicycle?

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Answer = 2400

Step-by-Step-Explanation

Cost of the old bicycle = Rs. 1700

Cost of repairing = Rs. 300

∴ Actual C.P. = C.P. + Overhead expenses = ₹(1700 + 300) = ₹2000

Profit = 20%

The selling price of the bicycle = ☟

$S.P. = \frac{100 \: + \: gain\%}{100} \times C.P.$

$= \frac{100 \: + \: 20\% }{100} \times 2000 = \frac{120}{100} \times 2000$

$= \frac{6}{1} \times 400 = 24000$

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