Question

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 1

Rs.2700

Explanation:

14% profit means 100% +14% more=114% profit

then to make into decimal 114% divided by 100 to give 1.14

then divide 2850 by 1.14 to find original selling price of bicycle

which will be Rs.2,500

next, a 8% profit means 100%+8% which equals 108% and then make into decimal which is 1.08

then multiply the original selling price (Rs.2,500) by 1.08 to give your final selling price after the 8% profit of ...

Rs.2,700