Question 82

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?

Solution

Total cost price of bicycle including repairs = 2700+500 = Rs. 3200

Selling price = Rs. 3520

=> Profit % = $$\frac{(3520-3200)}{3200}\times100$$

= $$\frac{320}{32}=10\%$$

=> Ans - (A)

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