Purchase price of bicycle

CAT 2019 Slot 2 · QA · Medium · Profit & loss

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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

  1. A.

    2000

  2. B.

    6000

  3. C.

    8000

  4. D.

    4000

Answer

D

Explanation

Let PP be the purchase price of one bicycle.

Total profit =6×(0.25P)−4×(0.25P)=1.5P−1.0P=0.5P= 6 \times (0.25 P) - 4 \times (0.25 P) = 1.5 P - 1.0 P = 0.5 P.

Given 0.5P=2000  ⟹  P=40000.5 P = 2000 \implies P = 4000 Rupees.

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