Mukesh purchased 10 bicycles in 2019, 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 Rs, was what?
Let the purchase price of each bicycle =P
6P x 1.25 =7.5P - profit on sale of 6 bicycles.
4P x 0.75 =3P - loss on sale of 4 bicycles
7.5P + 3P =10P+2000
10.5P - 10P = 2000
P = 2000/.5
P =4000 rands - price of a single bicycle.
4000 x 10 =40,000 total price of 10 bicycles.
[4000 x 6] x 1.25 =30,000 gross take on sale of 6 bicyles.
[4000 x 4] x 0.75 =12,000 gross take on sale of 4 bicyles.
30,000 + 12,000 = 42,000 gross take on sale of 10 bicycles.
42,000 - 40,000 =2,000 net profit on sale of 10 bicyles.
