A dealer buys a bicycle for 1,250 and marks it at 40% above its cost price
and allows 8% discount, find
(i) Selling pice of the bicycle
(ii) Profit percentage
step by step answer please
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A dealer buys a bicycle for 1,250 and marks it at 40% above its cost price
and allows 8% discount, find
(i) Selling pice of the bicycle
(ii) Profit percentage
step by step answer please
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Correct Question:
A dealer buys a bicycle for 1,250 and marks it at 40% above its cost price
and allows 8% discount, find
(i) Selling price of the bicycle
(ii) Profit percentage
Solution :
(i) Selling price of the bicycle
The cost price of the bicycle = Rs. 1250
Marked Price of the bicycle = cost price + 40% of the cost price.
⇒ Rs. 1250 + Rs. 500
Marked price of the bicycle = Rs. 1750
Discount given by the dealer = 8 %
Discount = Rs. 140
Selling price of the bicycle = Marked price of the bicycle - Discount
⇒ 1750 - 140
⇒ Selling price of the bicycle = Rs.1610
ii) Profit percentage
Profit = Selling price - Cost price
⇒ 1610 - 1250
Amount of profit = Rs. 360
Profit percentage =
Profit = 28.8 %
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