When a bicycle manufacturer reduced its selling price by 50% the number of bicycles sold radically increased to 600%. Initially the manufacturer was getting only 140% profit.

Question

2. What is the new selling price of a bicycle if initial selling price is Rs. 480?

(A) 120

(B) 240

(C) 360

(D) 480

53. What is the percentage increase of his profit

(A) 1

(B) 2

(C) 3

(D) no increase, no decrease

54. What is the initial number of bicycles if 1400 bicycles are sold now

(A) 320

(B) 550

(C) 1000

(D) 200

Answer 1

2. The new selling price of a bicycle would be Rs. 240 (50% reduction from Rs. 480).

(A) 240

53. The percentage increase in profit would be 2%. Initially, the profit was 140%, and with the increase in sales, the profit is now 600%.

(B) 2

54. The initial number of bicycles would be 320. If 600% more bicycles are sold now (1400), then the initial number of bicycles would be 1400/7 = 200.

(D) 200