Question

A Bike is sold at profit of Rs. 2000, which is 10% of its cost price. If its C.P is increased by 50% and it is still sold at a profit of 10%, then find the new selling price?
1. 35000
2. 36000
3. 33000
4. 32000
5. None of the above

Answer 1

Correct Answer - Option 3 : 33000

Given:

Percent decrease = 10%

Net effect = 5% increase

Formula used:

S.P. = C.P. + Profit

Gain% = ((S.P. - C.P.)/C.P.) × 100

Calculations:

Here, 10% of C.P. = 2000

⇒ original price of bike is 20000

Now original price is increased by 50%

⇒ 20000 + (0.5 × 2000)

⇒ 20000 + 10000 = 30000

⇒ Profit of 10% on C.P. = (10/100) × 30000

⇒ Profit = 3000

⇒ S.P. = 30000 + 3000

∴ Price of new bike is Rs. 33000