Home » When a dealer sells a bicycle for N81 he makes a profit of 80%. What…

When a dealer sells a bicycle for N81 he makes a profit of 80%. What…

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)