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. $12.22\%$
• B. $32.23\%$
• C. $22.22\%$
• D. $100\%$

Answer 1

Answer: (D)

$100\%$

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 $=$ $\frac{S.P-C.P}{C.P}\times 100$
$=$$\frac{600}{600}\times 100$
$=$$100$ $\%$