Question

If a man makes a profit of 10% by selling a bicycle for Rs.4400, at what price should he sell it to make a profit of 60% ?

Answer 1

The bicycle's selling price=4400
Bicycle's cost price=(100*Selling price)/(100+profit %)
                            =(100*4400)/(100+10)
                            =440000/110
                            =4000
To GET 60%Profit the bicycle's selling price=Cost price(100+profit%/100)
                                                                =4000(100+20/100)
                                                                =4000(120/100)
                                                                =4000*12/10
                                                                =400*12
                                                                =4800

Answer 2

Let the cost price of the bicycle be x Rs
S.P = 4400 Rs [ given]
Given that the bicycle is sold at 10 percent gain
⇒C.P = S.P - 10 percent of C.P
⇒x = 4400 - (10/100)*x
⇒x = 4400 - x/10
⇒x +10/x = 4400
⇒(10x+x)/10 = 4400
⇒11x/10 = 4400
⇒11x = 44000
⇒x = 44000/11
∴x = 4000
C.P = 4000 Rs
S.P price with a gain of 60 percent = C.P + 60 percent of C.P
⇒S.P = 4000 +60 PERCENT OF 4000
⇒S.P = 4000 + (60/100)*4000
⇒S.P = 4000 + 2400
∴S.P = 6400 Rs