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Aman sold his bike for Rs. 80,000 and he gets 60% profit. Then what will be the selling price if he is sold his bike at 40% profit?

1. Rs. 70,000
2. Rs. 60,000
3. Rs. 80,000
4. Rs. 90,000

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Correct Answer - Option 1 : Rs. 70,000


The selling price of a bike at a profit of 60% is Rs. 60000.

Formula used:

Cost price = {(Selling Price)/(100+Profit)} × 100


Cost price of bike,

Cost price = {(Selling Price)/(100+Profit)} × 100

 (80,000/160) × 100

 Rs. 50,000

The selling price of the bike, when we sold at 40% profit,

 50,000 × (140/100)

 Rs. 70,000

 The Selling price of the bike at 40% profit is Rs. 70,000.

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