Question

Mohit buys an old bicycle for Rs 2700 and spends Rs 500 on its repairs. If he sells the bicycle for Rs 3520, then what is his profit percentage?

A) 10 B) 12.5 C) 15 D) 20

Answer 1

Cost price of the bicycle= Rs (2700+500) =Rs 3200

Selling price of the bicycle= Rs 3520

Profit=(Selling price - Cost price)= Rs (3520-3200) =Rs 320

So, profit percentage  = (Profit/Cost price)*100% =(320/3200)*100%=10%

Hence, the profit percentage is 10%.

The correct answer is option (A).

Answer 2

Step-by-step explanation:

now let's find profit

c. p=2700+500

=3200

s. p=3520

profit =s. p - c. p

=3520 - 3200

profit =320

profit percentage formula

p%=p/c.p * 100

=320/3200 * 100

=0.1*100

=10