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A man sells a cycle at a marked price 50% above the cost price and allows three successive discounts of 20%, 10%, and 5% respectively. If the cycle is sold at a profit of ₹52, find the price at which the man should sell the cycle to make a profit of 25%.
- ₹2600
- ₹2300
- ₹2500
- ₹3000
Correct answer: ₹2500
Solution
The successive discounts make the selling price a fixed fraction of the marked price. Using the given profit of ₹52, the cost price comes out to ₹2000, so a 25% profit requires a selling price of ₹2500.
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