Answer:
The cost of bicycle is Rs1000
Step-by-step explanation:
Let x be the cost of bicycle
Total profit gained by the shopkeeper by selling at labelled price = 20%
Suppose he sell the bicycles at at 5% discount
Which means that the total profit he learn after discount will be:
20% -5% = 15%
The shopkeeper earns a profit of 15% if he sells at discount.
Profit gained by shopkeeper is:
15% of x = 15/100 · x
15% of x = 0.15x
Thus the profit gained will be 0.15x. As profit gained is equal to 150, we can say that
0.15x = 150
x = 1000
The cost of bicycle is Rs1000
