By selling a bicycle for Rs. 2,850, a shopkeeper gains 14%. If the profit is reduced to 8%, then the selling price will be:

Explanation:-

Let Cost Price was X.
X + 14% of X = 2850
X + ^14X/₁₀₀ = 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 = ¹⁰⁰/₁₁₄ * 2850 = Rs. 2500;
SP for a profit of 8% = ¹⁰⁸/₁₀₀ * 2500 = Rs. 2700.