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

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

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.