Question

Peter made 250% profit on sale of his bicycle. Is this possible

Answer 1

Answer:

Yes it is possible

Step-by-step explanation:

The profit made by 250 %, that is, the profit percentage can exceed 100%.

If Peter bought his bicycle for 'x'

He decides to sell his bicycle for '3.5x' which is 3.5 times the cost price of his bicycle,

Calculating profit % = (Profit) / (Cost Price) x 100

Profit % = (3.5x - x / x) x 100 =  2.5 x 100 = 250%

Hence, this 250% signifies, the profit made by peter which is 250/100 or 2.5 the cost price of the bicycle or the cost for which he bought the bicycle.