Multiple choice

Ramu marked his bicycle at 800. He sold it without offering any discount. The price at which he bought it was 500. Find his profit percentage.

  1. 60

  2. 80

  3. 50

  4. 30
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A Correct answer
Explanation

Profit = Selling Price - Cost Price = 800 - 500 = 300. Profit percentage = (Profit / Cost Price) * 100 = (300 / 500) * 100 = 60%.

AI explanation

Ramu marked his bicycle at 800 and sold it without any discount, so the selling price is 800. His cost price, the price at which he bought it, was 500. The profit is 800 minus 500, which is 300. Using the profit percentage formula of profit divided by cost price multiplied by 100, the calculation is 300 divided by 500 multiplied by 100, resulting in 60 percent.

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