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CAT 2019 Quant Question with Solution 58

Mukesh purchased 10 bicycles in 2017, all at the same price. He sold six of these at a profit of 25% and the remaining four at a loss of 25%. If he made a total profit of Rs. 2000, then his purchase price of a bicycle, in Rupees, was

  1. 8000
  2. 6000
  3. 4000
  4. 2000
Show Answer

Correct Answer: Option: 3

Let he cost of each bicycle be x.

From the given condition:

$10x\text{ }+\text{ }2000\text{ }=\text{ }6\times 1.25x\text{ }+\text{ }4\times 0.75x$

$\Rightarrow x=4000$

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