Question

A bicycle is sold at Rs.53,760 with a profit of 12%. At what price did the seller buy the bicycle?
1. Rs.44,000
2. Rs.40,600
3. Rs.48,000
4. Rs.42,000

Answer 1

Correct Answer - Option 3 : Rs.48,000

Formula:

profit % = \(sp - cp \over cp\) × 100

Given:

sp = 53760

profit = 12%

Calculation:

12 = \(53760 - cp\over cp\) × 100

12cp = 5376000 - 100cp

112cp = 5376000

cp = 48000

Hence, 48000 is the correct answer.