Question

On selling a bicycle for $Rs.4,300$, a dealer loses $14$%. For how much should he sell it to gain $14$%?

Answer 1

Selling price of a bicycle is Rs. $4300$ and the loss is $14$%.

Therefore,

C.P $=\frac{100}{100-loss\%}\times S.P$

$=\frac{100}{100-14}\times 4300$

$=\frac{100}{86}\times 4300$

$=5000$

So the cost of the bicycle is $5000$. Let us find out what should be the selling price to get $14$% profit.

Expected gain = $14$%

Therefore,

S.P. $=\frac{100+gain\%}{100}\times 5000$

$=\frac{114}{100}\times 5000$

$=5700$

Hence, the selling price of the bicycle to gain $14$% profit is $5700$.