Paper 1 · Mathematical Reasoning and Aptitude
Arjun makes a profit of 18% by selling a bike for Rs 59,000. If the cost price of the bike increases by 5% and Arjun wants to make the same amount of profit, what should the new selling price be?
ARs 61,500 ✓ Correct
BRs 62,500
CRs 60,000
DRs 58,000
Correct answer: (A) Rs 61,500 — The new selling price should be Rs 61,500, so that is the answer.
Explanation
★The new selling price should be Rs 61,500, so that is the answer.
★An 18% profit means the cost price is 59,000 divided by 1.18, which is 50,000.
★So the profit amount is 59,000 minus 50,000, which is 9,000.
★The cost price rises by 5% to 50,000 times 1.05, which is 52,500.
★To keep the same profit of 9,000, the new selling price is 52,500 plus 9,000.
★This gives Rs 61,500.
Want more like this? Create a free account to practise a full test, track your progress, and get spaced-repetition review.
Shared by Mcqkart · via Mcqkart.in