Three bicycles are bought for Rs. 16,500, and the transport cost per bicycle is Rs. 200. What should be the selling price (in Rs.) of each bicycle to have a profit of 8%?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 6156
Given that
Three bicycles are bought for Rs. 16,500
The transport cost per bicycle is Rs. 200
The total C.P. of bicycle = (16500/3) + 200 = 5500 + 200 = Rs. 5700
The profit % = 8%
Formula used
S.P. = C.P. × (100 + P)/100
Caculation
The selling price per cycle = 5700 × (100 + 8)/100 = 57 × 108 = Rs 6156