Anwar sells a bicycle for Rs.49755 and earns a profit of 7%. Find the cost price of the bicycle?
Answer: Rs.46500
Explanation
Given:
Selling Price (SP) = Rs. 49755
Profit Percentage = 7%
Let Cost Price (CP) be x.
SP = CP + Profit
49755 = x + 7% of x
49755 = x + 0.07x
49755 = 1.07x
x = 49755/1.07
x = 46500
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