By selling a bicycle for Tk. 2,850, a shopkeeper gains 14%. If the profit is reduced to 8%, then the selling price will be:

Question: By selling a bicycle for Tk. 2,850, a shopkeeper gains 14%. If the profit is reduced to 8%, then the selling price will be:

Solution:
Let Cost Price was x
ATQ,
x + 14% of x = 2850
⇒ x + 14x/100 = 2850
⇒ x + 0.14x = 2850
⇒ 1.14x = 2850
⇒ x = 2850/1.14
∴ x = 2500

So, Cost Price = 2500
Now, Selling Price When profit remains at 8%,
= 2500 + 8% of 2500
= 2500 + 200
= Tk. 2700