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Question

Mike bought an old cycle for $$500$$ rupees and spent $$100$$ rupees on its repair. He sold that cycle for $$1200$$ rupees. Calculate his profit percent.


A
12.22%
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B
32.23%
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C
22.22%
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D
100%
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Solution

The correct option is C $$100\%$$
Price paid for buying a cycle $$=$$ C.P. $$=$$ Rs. $$500$$
Amount spent on repair $$=$$ Rs. $$100$$
Total cost of the cycle $$=$$ cost price $$=$$ Rs. $$500 +$$ Rs. $$100 = $$ Rs. $$600$$
Selling price $$=$$ S.P $$=$$ Rs. $$1200$$
Gain percentage $$=$$ $$ \dfrac{S.P - C.P }{C.P} \times {100}$$
$$=$$$$\dfrac{600}{600} \times {100}$$
$$=$$$$ 100$$ $$\%$$

Mathematics

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