Explanation

Let Cost Price was X.

X + 14% of X = 2850

X + 14X100

 = 2850

X + 0.14X = 2850

1.14X = 2850

X = 2500.

So, Cost Price = Rs. 2500.

Now, Selling Price When profit remains at 8%,

= 2500 + 8% of 2500

= Rs. 2700.

Short-Cut

CP of bicycle = 100114

 × 2850 = Rs. 2500

SP for a profit of 8% = 108100

 × 2500 = Rs. 2700

S.P=Rs.2850 at 14% Profit is reduced to 8% then the Selling price will be? Solution At first,we have to find actual C.P According to Formula=S.P*100 /100(if profit then add and if loss then minus from 100 =2850*100/100(14%profit will be 114) Then 2850*100/114 C.P=Rs.2500 Now we know that C.P is Rs.2500 ,Profit =8% here we have to find the S.P According to Formula S.P=C.P*100(if profit add and if loss minus from 100/100 2500*108/100 Rs.2700 Answer.