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A cycle merchant allows 25% discount on the marked price of the cycles and still makes a profit of 20%. If he gains ₹ 360 over the sale of one cycle, find the marked price of the cycle.       (SSC Multitasking 2014)
  • a)
    ₹ 2,920
  • b)
    ₹ 2,800
  • c)
    ₹ 2,880
  • d)
    ₹ 2,900
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
A cycle merchant allows 25% discount on the marked price of the cycles...
Let M be the market price and C be the cost price of the cycle.
Selling price, 



M = 360 × 4 × 2 = ₹ 2,880
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Community Answer
A cycle merchant allows 25% discount on the marked price of the cycles...
Given:
- A cycle merchant allows a 25% discount on the marked price of the cycles.
- The merchant still makes a profit of 20%.
- The merchant gains 360 over the sale of one cycle.

To find:
The marked price of the cycle.

Assumption:
Let the cost price of the cycle be C.

Calculating the Selling Price:
- The merchant allows a 25% discount on the marked price, which means the selling price is 75% of the marked price.
- So, the selling price of the cycle is 75% of the marked price.

Calculating the Profit:
- The merchant makes a profit of 20% on the cost price.
- The profit is calculated as 20% of the cost price.
- So, the profit made by the merchant is 20% of C.

Calculating the Cost Price:
- The selling price is the sum of the cost price and the profit.
- So, the selling price is C + 20% of C.
- We can write this as (C + 20/100 * C) = (C + 0.2C) = 1.2C.

Calculating the Marked Price:
- The selling price is 75% of the marked price.
- So, 1.2C = 75% of the marked price.
- We can write this as 1.2C = 75/100 * marked price = 0.75 * marked price.
- Dividing both sides of the equation by 0.75, we get marked price = 1.2C / 0.75 = (12/10)C / (3/2) = (12/10) * (2/3) * C = 8/5 * C.

Calculating the Gain:
- The gain made by the merchant is the difference between the selling price and the cost price.
- The gain is calculated as (Selling Price - Cost Price).
- Substituting the values, we get (8/5 * C - C) = 360.
- Simplifying the equation, we get (3/5)C = 360.
- Dividing both sides of the equation by (3/5), we get C = 360 * (5/3) = 600.

Calculating the Marked Price:
- Substituting the value of C in the equation for the marked price, we get marked price = (8/5) * 600 = 960.

Therefore, the marked price of the cycle is 960.
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A cycle merchant allows 25% discount on the marked price of the cycles and still makes a profit of 20%. If he gains 360 over the sale of one cycle, find the marked price of the cycle. (SSC Multitasking 2014)a)2,920b)2,800c)2,880d)2,900Correct answer is option 'C'. Can you explain this answer?
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A cycle merchant allows 25% discount on the marked price of the cycles and still makes a profit of 20%. If he gains 360 over the sale of one cycle, find the marked price of the cycle. (SSC Multitasking 2014)a)2,920b)2,800c)2,880d)2,900Correct answer is option 'C'. Can you explain this answer? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about A cycle merchant allows 25% discount on the marked price of the cycles and still makes a profit of 20%. If he gains 360 over the sale of one cycle, find the marked price of the cycle. (SSC Multitasking 2014)a)2,920b)2,800c)2,880d)2,900Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A cycle merchant allows 25% discount on the marked price of the cycles and still makes a profit of 20%. If he gains 360 over the sale of one cycle, find the marked price of the cycle. (SSC Multitasking 2014)a)2,920b)2,800c)2,880d)2,900Correct answer is option 'C'. Can you explain this answer?.
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