Select the correct answerAkshay buys a motorcycle for Rs.25000. If he decides to sell the motorcycle for a profit of 7%, find the selling price.Options26,7504567None of these3000
Question
Select the correct answerAkshay buys a motorcycle for Rs.25000. If he decides to sell the motorcycle for a profit of 7%, find the selling price.Options26,7504567None of these3000
Solution
The selling price of the motorcycle can be calculated using the formula:
Selling Price = Cost Price + Profit
Given that the cost price is Rs. 25000 and the profit percentage is 7%, we first need to calculate the profit amount.
Profit = (Profit Percentage/100) * Cost Price Profit = (7/100) * 25000 Profit = Rs. 1750
Now, we can calculate the selling price:
Selling Price = Cost Price + Profit Selling Price = 25000 + 1750 Selling Price = Rs. 26750
So, the correct answer is Rs. 26750.
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