A man buys a bicycle for $200 and sells it for $250. What is his profit percenta

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Question: A man buys a bicycle for $200 and sells it for $250. What is his profit percentage?

Options:

Correct Answer: 25%

Solution:

Profit = Selling Price - Cost Price = 250 - 200 = 50. Profit Percentage = (Profit/Cost Price) * 100 = (50/200) * 100 = 25%.

A man buys a bicycle for $200 and sells it for $250. What is his profit percentage?

A man buys a bicycle for $200 and sells it for $250. What is his profit percentage?

Step 1: Identify the cost price of the bicycle. The cost price is $200.
Step 2: Identify the selling price of the bicycle. The selling price is $250.
Step 3: Calculate the profit by subtracting the cost price from the selling price. Profit = Selling Price - Cost Price = 250 - 200.
Step 4: Calculate the profit amount. Profit = 50.
Step 5: Calculate the profit percentage using the formula: Profit Percentage = (Profit / Cost Price) * 100.
Step 6: Substitute the values into the formula: Profit Percentage = (50 / 200) * 100.
Step 7: Calculate the profit percentage. Profit Percentage = 25%.

Profit Calculation – Understanding how to calculate profit by subtracting the cost price from the selling price.
Profit Percentage – Calculating profit percentage using the formula (Profit/Cost Price) * 100.