Two bikes cost ₹40000 each. One of them is sold for ₹48000. At what price should the other be sold to get an overall profit of 25%?
Answer & explanation
Correct answer: option 3
Cost price of first bike = Cost price of second bike = 40000
Overall profit to be earned = 25% = 25% of 80000 = 20000
Selling price of the first = 48000
Profit earned on first = 48000 - 40000 = 8000
Then, the profit earned on second = 20000 - 8000 = 12000
So the selling price of the second = 40000 + 12000 = 52000