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

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

Options:

  1. 20%
  2. 25%
  3. 30%
  4. 15%

Correct Answer: 25%

Solution: 

The profit is selling price - cost price = 250 - 200 = 50. The percentage profit is (profit/cost price) * 100 = (50/200) * 100 = 25%. Thus, his percentage profit is 25%.

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

Practice Questions

Q1
A man buys a bicycle for $200 and sells it for $250. What is his percentage profit?
  1. 20%
  2. 25%
  3. 30%
  4. 15%

Questions & Step-by-Step Solutions

A man buys a bicycle for $200 and sells it for $250. What is his percentage profit?
  • Step 1: Identify the cost price of the bicycle, which is $200.
  • Step 2: Identify the selling price of the bicycle, which is $250.
  • Step 3: Calculate the profit by subtracting the cost price from the selling price: $250 - $200 = $50.
  • Step 4: To find the percentage profit, divide the profit by the cost price: $50 / $200.
  • Step 5: Multiply the result from Step 4 by 100 to convert it to a percentage: (50 / 200) * 100.
  • Step 6: Calculate the final result: 50 / 200 = 0.25, and 0.25 * 100 = 25%.
  • Step 7: Conclude that the percentage profit is 25%.
  • Profit Calculation – Understanding how to calculate profit by subtracting the cost price from the selling price.
  • Percentage Calculation – Calculating percentage profit by dividing profit by cost price and multiplying by 100.
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