A man bought second hand bicycle for Rs 1120 and spent Rs 160 to repair it.If he sold it for Rs 1344,find his profit or loss percent
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ANSWER
THE PROFIT PERCENT IS 5%.
Step-by-step explanation:
C.P = Rs. 1120
Amount spent on repairing = 160
Total Amount spent = 1120+160 = Rs 1280
S.P = Rs. 1344
S.P › C.P
Therefore, he earned a profit of 1344 - 1280 = Rs 64
We know,
Profit % = 100 × Profit/ C.P
= 100 × 64/ 1280
= 5%
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