Question

A bicycle is purchased for $₹1800$ and is sold at a profit of $12\%$ Its selling price is.

• A. $₹1584$
• B. $₹2016$
• C. $₹1788$
• D. $₹1812$

Answer 1

The correct option is B

$₹2016$

Explanation for the correct option

Finding the selling price:

Given:

A bicycle is purchased for $₹1800$

Bicycle is sold at a profit of $12\%$.

Its selling price is $=?$

We know that,

$\begin{array}{rcl}\mathrm{Profit}\mathrm{percent}& =& \left(\frac{\mathrm{Profit}}{\mathrm{CP}}\right)\times 100\\ 12& =& \left(\frac{\mathrm{Profit}}{1800}\right)\times 100\\ \left(\frac{12\times 1800}{100}\right)& =& \mathrm{Profit}\\ \mathrm{Profit}& =& 12\times 18\end{array}$

Profit$=₹216$

Then,

$\begin{array}{rcl}\mathrm{Profit}& =& \mathrm{Selling}\mathrm{price}\left(\mathrm{SP}\right)–\mathrm{Cost}\mathrm{price}\left(\mathrm{CP}\right)\\ 216& =& \mathrm{SP}–1800\\ \mathrm{SP}& =& 216+1800\\ \mathrm{SP}& =& ₹2016\end{array}$

Therefore, the selling price of the bicycle is $₹2016$