By selling a bicycle for Rs. 2,850, a shopkeeper gains 14%. If the profit is reduced to 8%, then the selling price will be:
Answer: Rs. 2700
Explanation
Let Cost Price was X.
X + 14% of X = 2850
X + 14X100
= 2850
X + 0.14X = 2850
1.14X = 2850
X = 2500.
So, Cost Price = Rs. 2500.
Now, Selling Price When profit remains at 8%,
= 2500 + 8% of 2500
= Rs. 2700.
Short-Cut
CP of bicycle = 100114
× 2850 = Rs. 2500
SP for a profit of 8% = 108100
× 2500 = Rs. 2700
S.P=Rs.2850 at 14% Profit is reduced to 8% then the Selling price will be? Solution At first,we have to find actual C.P According to Formula=S.P*100 /100(if profit then add and if loss then minus from 100 =2850*100/100(14%profit will be 114) Then 2850*100/114 C.P=Rs.2500 Now we know that C.P is Rs.2500 ,Profit =8% here we have to find the S.P According to Formula S.P=C.P*100(if profit add and if loss minus from 100/100 2500*108/100 Rs.2700 Answer.
