Question

A bicycle dealer buys 30 Razorback cycles for ₹ 48000. Of these, 10 are with gears and the rest are without gears. At what price must he sell each geared cycle so that if he sells the non - geared ones at $\frac{3}{4}$ of their cost price, he makes a profit of 40% on his total outlay. [3 Marks]

Answer 1

CP of each cycle = 48000/30 = ₹ 1600

20 non-geared cycles sold at $\frac{3}{4}$ of the price : $\frac{3}{4}\times$1600 = ₹ 1200 each ( 0.5 Mark)

Total SP of 20 non-geared cycles = 1200 $\times$ 20 = ₹ 24000 ( 0.5 Mark)

Overall profit of 40% on ₹ 48000 = $\frac{40}{100}\times$48000 = ₹ 19200 ( 0.5 Mark)

$\therefore$ Total SP must be ₹ 48000 + ₹ 19200 = ₹ 67200 ( 0.5 Mark)

To earn an overall profit of 40% , he needs : ₹ 67200 - ₹ 24000 = ₹ 43200 ( 0.5 Mark)

$\therefore$ The SP for each geared cycle should be = $\frac{43200}{10}$ = ₹ 4320 ( 0.5 Mark)