Question
MCQ
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%
Solution
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%
Concept: Profit and Loss (Entrance Exam)
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