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By selling a bicycle for $ 2,850, a shopkeeper gains 14%. If the profit is reduced to 8%, then the selling price will be
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- $ 2,600
- $ 2,700
- $ 2,800
- $ 3,000
Correct Option: B
Given that , S.P. of bicycle = $ 2,850
Profit = 14%
C.P. of bicycle = | × S.P. of bicycle | 100 + Profit% |
C.P. of bicycle = | × 2850 = $ 2500 | 114 |
S.P. for a profit of 8% = | × 2500 = $ 2700 | 100 |