Question

Naresh bought a bicycle each for his two sons, each bicycle priced at Rs. 3500. If the first bicycle is sold at a profit of 5%, the how much should the other bicycle be sold for, to gain a total of 20% on both?

• A. 15%
• B. 10%
• C. 25%
• D. 35%

Hint:

To calculate the required percentage profit, first calculate the total selling price based on desired total profit, then find the required price for the second item.

Answer 1

The Correct Option is D

Let the cost price of each bicycle be Rs. 3500.
The first bicycle is sold at a 5% profit: \[ \text{Selling Price of 1st bicycle} = 3500 + (5% \times 3500) = 3500 + 175 = 3675 \] Now, the total desired profit on both bicycles is 20%, so the total selling price for both must be: \[ \text{Total Selling Price} = 3500 \times 2 + 20% \times (3500 \times 2) = 7000 + 1400 = 8400 \] Thus, the selling price of the second bicycle should be: \[ \text{Selling Price of 2nd bicycle} = 8400 - 3675 = 4725 \] The profit on the second bicycle is: \[ \text{Profit} = 4725 - 3500 = 1225 \] The percentage profit on the second bicycle is: \[ \frac{1225}{3500} \times 100 = 35% \] Hence, the second bicycle should be sold at a 35% profit.