Question

Naresh bought a bicycle each for his two sons, each bicycle priced at Rs. 3500. If the first bicycle is sold at a profit of 5%, how much should the other bicycle be sold for, to gain a total of 20% on both? 

Options

• 15%

• 10%

• 25%

• 35%

Answer 1

35%

Explanation:

The total cost price of two bicycle = 3500 × 2 = 7000

Seling price to get a 20% profit on both

`=7000xx((100+20)/100)=8400`

The selling price of the first bicycle on a profit of 5%

`=3500xx((100+5)/100)=3675`

The required selling price of the second bicycle

= 8400 − 3675 = 4725

Profi = 4725 − 3500 = 1225

Profit % `=1225/2500xx100` = 35%