Question
Vikram bought an old bike at Rs. 42000 and he spent Rs. 8000 on its modification. He increased the price of bike by 30% at the time of selling but he gives 10% discount when he sold. What is the profit percentage?
Solution
Total cost price of the bike = 42000 + 8000 = Rs. 50000 Selling price of bike = 50000 × 1.3 × 0.9 = Rs. 58500 Profit percentage = [(58500 – 50000)/50000] × 100 = 17%
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