Question

Alok sold his bicycle for ₹5500 and gets 10% profit. How much it should be sold to get 20% profit?

Answer 1

Selling price of bicycle = ₹5500, profit = 10%

We know,

Cost price $=\frac{\text{Selling price}\times \text{100}}{\text{( 100 + profit\% )}}$
$=\frac{5500\times 100}{100+10}$
$=\frac{5500}{110}$
$=5000$

Now, 20% profit of $5000=5000\times \frac{20}{100}=1000$

Therefore, Selling price = cost price + profit
$=5000+1000$
$=6000$

Hence, Alok should sell his bicycle for ₹6000 to get 20% profit.