A shopkeeper buys 200 bicycles at $1200 per bicycle. He spends $30 per bicycle on transportation. he also spend $4000 on advertising. then he sells all the bicycle at $1350 per piece. find his profit or loss. also calculate it as a percentage.
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Step-by-step explanation:
No. of Cycle = 200
Total cost price = cost of Cycle + advertising + transportation
= (1200 × 200) + (30 × 200) + 4000
= 250,000
total selling price = 1350 × 200 = 270,000
Profit = selling price - cost price
= 270,000 - 250,000
= 20,000
profit percentage = ( profit / cost price ) × 100
= ( 20,000 / 250,000 ) × 100
= 8%
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