Mukesh purchased 10 bicycles in 2017, all at the same price. He sold six of these at a profit of 25% and the remaining four at a loss of 25%. If he made a total profit of Rs. 2000, then his purchase price of a bicycle, in Rupees, was
Correct Answer :
4000
Solution :
Let the purchase price (cost price) of each bicycle be rupees.
Mukesh sold 6 bicycles at a profit of 25%:
He sold the remaining 4 bicycles at a loss of 25%:
The net profit is the difference between the total profit and total loss:
Given that the total net profit is Rs. 2000:
Therefore, the purchase price of a bicycle was Rs. 4000.
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