After 25% discount on marked price, bicycle is sold for Rs. 4500, gaining Rs.…
2024
After 25% discount on marked price, bicycle is sold for Rs. 4500, gaining Rs. 500. What percentage of cost price is the marked price ?
- A.
120%
- B.
140%
- C.
150%
- D.
180%
Attempted by 6 students.
Show answer & explanation
Correct answer: C
Answer: 150%
Key steps:
Marked price (MP): The bicycle is sold for Rs. 4500 after a 25% discount, so MP = 4500 ÷ 0.75 = Rs. 6000.
Cost price (CP): Given a gain of Rs. 500 on the sale, CP = SP − gain = 4500 − 500 = Rs. 4000.
Percentage: MP as a percentage of CP = (MP ÷ CP) × 100 = (6000 ÷ 4000) × 100 = 150%.
Therefore, the marked price is 150% of the cost price.