Manjeet bought a second-hand motorbike for ₹22,000 and spent ₹3,000 on its overhauling and maintenance. He then sold it with 12% profit. If he had sold it for 3500 less, then what would have been his profit percentage?

10%

CP = ₹22000

spent  = ₹3,000

Profit = 12%

The total cost price occurred to Manjeet for the bike

⇒ 22000 + 3000 = ₹25000

The selling price = 25000 + 25000 × 12% = ₹ 28000

Had he sold the bike for ₹500 less, the selling price would have been

⇒ 28000 - 500 = ₹27500

Now, his profit percentage = \(\frac{(27500 – 25000) × 100}{25000}\)

⇒ 10%