A bike is sold for Rs 48,000, and thus the seller makes aprofit of 20%. In order to gain a profit of 25%, at what price should he sellthe bike?Rs 60,000Rs 50,000Rs 55,000Rs 52,000
Question
A bike is sold for Rs 48,000, and thus the seller makes aprofit of 20%. In order to gain a profit of 25%, at what price should he sellthe bike?Rs 60,000Rs 50,000Rs 55,000Rs 52,000
Solution
First, we need to find the cost price of the bike. If the bike is sold for Rs 48,000 with a profit of 20%, it means that 120% of the cost price is Rs 48,000.
So, we can set up the equation: 120/100 * Cost price = Rs 48,000
Solving for Cost price gives us: Cost price = Rs 48,000 * (100/120) = Rs 40,000
Now, to find the selling price for a 25% profit, we calculate 125% of the cost price.
So, Selling price = 125/100 * Rs 40,000 = Rs 50,000
Therefore, to gain a profit of 25%, the bike should be sold for Rs 50,000.
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