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:

A. Rs. 2600 B. Rs. 2700 C. Rs. 2800 D. Rs. 3000 Answer: Option B

Solution(By Apex Team)

Let Cost Price was X. X + 14% of X = 2850 X + $\frac{14 \mathrm{X}}{100}$= 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 = $\frac{100}{114}$× 2850 = Rs. 2500 SP for a profit of 8% = $\frac{108}{100}$ × 2500 = Rs. 2700

Related Questions on Profit and Loss

A. 45 : 56
B. 45 : 51
C. 47 : 56
D. 47 : 51

A. Rs. 2600
B. Rs. 2700
C. Rs. 2800
D. Rs. 3000

A sells an article to B at a profit of 10% B sells the article back to A at a loss of 10%. In this transaction:

A. A neither losses nor gains
B. A makes a profit of 11%
C. A makes a profit of 20%
D. B loses 20%