electric bicycle is sold Rs. 15300 to earn a profit of 3 %. What should be the Selling price of the electric bicy such that a profit of 7 % is achieved?​

Sure, let's solve this step by step.

Step 1: First, we need to find the cost price of the electric bicycle. We know that the selling price is Rs. 15300 and this includes a profit of 3%. So, the cost price would be 100% of the price. We can set up the equation as follows:

15300 = 103% of cost price

To find the cost price, we can rearrange the equation to:

Cost price = 15300 / 1.03

Step 2: Calculate the cost price:

Cost price = Rs. 14854.37 (approximately)

Step 3: Now, we want to find the selling price for a profit of 7%. We can set up the equation as follows:

Selling price = 107% of cost price

Step 4: Calculate the new selling price:

Selling price = 1.07 * 14854.37

Selling price = Rs. 15893.68 (approximately)

So, the selling price of the electric bicycle should be approximately Rs. 15893.68 to achieve a profit of 7%.