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Anwar sells a bicycle for Rs.49755 and earns a profit of 7%. Find the cost price of the bicycle?
  1. Rs.46500
  2. Rs.47200
  3. Rs.45800
  4. None of these
Explanation

Given:

Selling Price (SP) = Rs. 49755

Profit Percentage = 7%

Let Cost Price (CP) be x.

SP = CP + Profit

49755 = x + 7% of x

49755 = x + 0.07x

49755 = 1.07x

x = 49755/1.07

x = 46500

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