If a person purchased a bicycle in 500 Rs. and sold it for 800 Rs. What is the percentage of profit?
Answer: None of these
Explanation
To find the percentage of profit, use the formula:
Profit %=(Price−Cost Price/Cost PriceSelling )×100
Given:
Cost Price (CP) = Rs. 500
Selling Price (SP) = Rs. 800
Profit=800−500=300 Profit %=(300/500)×100=60%
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