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Question

A bicycle was sold at a profit of 12% Had it been sold for Rs. 16 more the profit would have been 20%. Find the selling price of the bicycle.

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Solution

Let the CP and SP of the bicycle be x and y respectively.

For the case, when SP=y,
gain %=SPCPCP×10012=yxx×1000.12x=yxy=1.12x(i)

For the case, when SP=y+16,
gain %=SPCPCP×10020=y+16xx×1000.2x=1.12x+16x0.2x=0.12x+160.08x=16x=Rs. 200

By using equation (i),
y=1.12x=1.12×200=Rs. 224

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