NIFT UG 2018 Question Paper with solutions

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Question : 5 of 150

Marks: +1, -0

By selling a bicycle for

₹ 2850

, a shopkeeper gains

14 \%

. If the profit is reduced to

8 \%

, then the selling price will be

₹ 2600
$₹ 2700$
₹ 2800
₹ 3000

Solution:

Selling price of bicycle

=\₹\;2850

Profit percentage

=14 \%

∴ Cost price

=\;{2850}/{114} × 100

=\₹\; 2500

Now, new profit

=8 \%

∴ \;\;

Selling price

=\;{108}/{100} × 2500

=\₹\; 2700

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