Question 3: If a person bought a 500 Rs bicycle and sold it for 800 Rs, what is the profit percentage?
a. 20 b. 30 c. 40 d. none
FPSC Custom Inspector 2016
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Cost Price of bicycle = CP = 500 Rs
Sale Price of bicycle = SP = 700 Rs
Profit percentage ?
To solve this we use profit formula;
So. his profit is 300. Now let profit is ‘x’ percent of cost price ;
So, he earned 60% profit