The profit obtained by selling a bicycle for ₹840 is the same as the loss incurred if it is sold for ₹760. What will be the percentage profit if the bicycle is sold for ₹900?
Show answer & explanation
Correct answer: B
Explanation
Cost price of the bicycle = x
840 − x = x − 760
2x = 1600
x = 800
Cost price = ₹800
Selling price = ₹900
Profit = 900 − 800 = ₹100
Profit percentage = (100 ÷ 800) × 100 = 12.5%