If I sell a cycle at ₹3600, I make a profit of 20%. At what price I need to sell to make a profit of 10%?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → ₹3300
Profit per cent is worked out on the cost price, so find the cost price first and then add 10% of it.
Selling price at 20% profit \(=120\%\) of CP \(=3600\)
\(\displaystyle \text{CP}=\frac{3600\times100}{120}=3000\)
Selling price for 10% profit \(\displaystyle =\frac{110}{100}\times3000=3300\)