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A shopkeeper buys 60 cycles and marks them at 20% above the cost price. He allows a discount of 10% on the marked price for cash sale and 5% discount for credit sales. If three-fourth of the cycles are sold at cash and remaining for credit, the total profit be Rs. 11400. What is the cost price of a cycle?
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A shopkeeper buys 60 cycles and marks them at 20% above the cost price...
Introduction
To determine the cost price of a cycle, we need to analyze the shopkeeper's transactions step-by-step.

Cost Price Calculation
- Let the cost price of each cycle be Rs. x.
- The shopkeeper buys 60 cycles, so the total cost price (CP) is:
- Total CP = 60 * x = 60x

Marked Price Calculation
- The shopkeeper marks the cycles at 20% above the cost price:
- Marked Price (MP) = CP + 20% of CP = 1.2x

Discounts Offered
- For cash sales, a 10% discount is offered:
- Cash Selling Price (CSP) = MP - 10% of MP = 0.9 * 1.2x = 1.08x
- For credit sales, a 5% discount is offered:
- Credit Selling Price (CrSP) = MP - 5% of MP = 0.95 * 1.2x = 1.14x

Sales Breakdown
- Three-fourth of the cycles are sold for cash:
- Cycles sold for cash = (3/4) * 60 = 45 cycles
- One-fourth of the cycles are sold for credit:
- Cycles sold for credit = (1/4) * 60 = 15 cycles

Total Revenue Calculation
- Total revenue from cash sales:
- Revenue from cash = 45 * 1.08x = 48.6x
- Total revenue from credit sales:
- Revenue from credit = 15 * 1.14x = 17.1x
- Total revenue = 48.6x + 17.1x = 65.7x

Profit Calculation
- Total profit is given as Rs. 11,400:
- Profit = Total Revenue - Total CP
- 11,400 = 65.7x - 60x
- 11,400 = 5.7x
- x = 11,400 / 5.7 = 2,000

Conclusion
- Therefore, the cost price of a cycle is Rs. 2,000.
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A shopkeeper buys 60 cycles and marks them at 20% above the cost price. He allows a discount of 10% on the marked price for cash sale and 5% discount for credit sales. If three-fourth of the cycles are sold at cash and remaining for credit, the total profit be Rs. 11400. What is the cost price of a cycle?
Question Description
A shopkeeper buys 60 cycles and marks them at 20% above the cost price. He allows a discount of 10% on the marked price for cash sale and 5% discount for credit sales. If three-fourth of the cycles are sold at cash and remaining for credit, the total profit be Rs. 11400. What is the cost price of a cycle? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about A shopkeeper buys 60 cycles and marks them at 20% above the cost price. He allows a discount of 10% on the marked price for cash sale and 5% discount for credit sales. If three-fourth of the cycles are sold at cash and remaining for credit, the total profit be Rs. 11400. What is the cost price of a cycle? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper buys 60 cycles and marks them at 20% above the cost price. He allows a discount of 10% on the marked price for cash sale and 5% discount for credit sales. If three-fourth of the cycles are sold at cash and remaining for credit, the total profit be Rs. 11400. What is the cost price of a cycle?.
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