Kevin sold 10 bicycles at a profit of 15%. If he had sold all the bicycles for Rs. 2000 more, his overall profit would have been 25%. What is the selling price of 7 bicycles at 10% profit?
Let the cost price of each bicycle be Rs. b. Initial selling price of all bicycles = 1.15 × 10 × b = Rs. 11.5b According to the question, 11.5b + 2000 = 1.25 × 10b Or, 12.5b - 11.5b = 2000 Or, b = 2000 Therefore, the selling price of 7 bicycles at 10% profit = 7 × 1.1b = Rs. 15400
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