Question

A trader purchased an old bicycle for * 480. He spent 20% of the cost on its repair. If he wants to
earn 144 as net profit on it, how much percentage should he add to the purchase price of the
bicycle ?
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Answer 1

Step-by-step explanation:

CP initial = 480

CP final = 480×120÷100 = 576

Profit = 144

So SP = 576+144 = 720

So the Percentage added on purchased amount i.e. initial CP

((720-480)/480) × 100 = 50%