Ram sold a motorcycle for ₹70000 at 25% profit. For what price should he sell a motorcycle to gain 30% profit ?
Answer & explanation
Correct answer: option 2
Selling price of the morotcycle = 70000
Profit = 25%
Then the cost price of the article = 70000 × \(\frac{100}{125}\) = 56000
Required profit = 30%
Then the selling price of the motorcycle = 130% of the CP
130% of 56000 = ₹72,800