Surendra bought an old bicycle for ₹2,500 and spent ₹300 on its repair. He sold it for ₹3,000. Find his profit percentage.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e
Cost Price (CP) of the bicycle = ₹2,500
Repair cost = ₹300
So, Total Cost Price = ₹2,500 + ₹300 = ₹2,800
Selling Price (SP) = ₹3,000
Profit = SP − CP = 3000 − 2800 = ₹200
Profit % = (Profit/Cost Price) × 100 = (200/2800) × 100 = 20000/2800 =