Question

A Shopkeeper

made 20% profil selling
becycle at the labelled price . he
would gain only Rs 150 when 5% discount was
allowed! What
was the
cost price of that
bicycle​

Answer 1

The cost of bicycle is Rs1000

Explanation:

Let x be the cost of bicycle

Total profit gained by the shopkeeper by selling at labelled price = 20%

Suppose he sell the bicycles at at 5% discount

Which means that the total profit he learn after discount will be:

20% -5% = 15%

The shopkeeper earns a profit of 15% if he sells at discount.

Profit gained by shopkeeper is:

15% of x = 15/100 · x

15% of x = 0.15x

Thus the profit gained will be 0.15x. As profit gained is equal to 150, we can say that

0.15x = 150

x = 1000

The cost of bicycle is Rs1000