Question : A man bought two bicycles for Rs. 3,000 each. If he sells one bicycle at a profit of 10%, then for how much percentage of profit should he sell the other bicycle so that he makes a profit of 20% on the whole?
Option 1: 15 percent
Option 2: 25 percent
Option 3: 30 percent
Option 4: 10 percent
Correct Answer: 30 percent
Solution :
A man bought two bicycles for Rs. 3,000 each.
Total cost price = 3000 + 3000 = 6000
He wants a profit of 20% on the whole.
So, total selling price should be $6000×\frac{100+20}{100}=7200$
He sells one bicycle at a profit of 10%.
$\therefore$ Selling price of that cycle = $\frac{100+10}{100}×3000=3300$
So, the selling price of the other cycle = 7200 – 3300 = 3900
We know the profit percentage
$=\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100$
$=\frac{3900-3000}{3000}×100$
$=30\%$
Hence, the correct answer is 30 percent.
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