When a dealer sells a bicycle for N81 he makes a profit of 80%. What did he pay for the bicycle?

A.
N73 
B.
N74.52 
C.
N75 
D.
N87.48 
E.
N75.52
Correct Answer: Option C
Explanation
Profit = 8%
(therefore S.P = N81 = (100 + 8)% = 108%)
(108% = N81)
(100% = frac{81}{108} times 100)
= (frac{8100}{108} = N75)