CAT 2019 Profit & Loss Question (Medium)

Question

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

Accepted Answer

Step 1 Let the purchase price of each bicycle be Total cost for 10 bicycles Step 2 Six bicycles sold at 25 profit Selling price Four bicycles sold at 25 loss Selling price Total selling price Step 3 Total profit Selling price Cost price Step 4 Wait there s an inconsistency here. Let s recheck Ah the

CAT 2019

Quantitative

Profit & Loss

Medium

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

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