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A man sells a bicycle for $300 at a profit of 20%. What was the cost price of th
Practice Questions
Q1
A man sells a bicycle for $300 at a profit of 20%. What was the cost price of the bicycle?
$240
$250
$260
$270
Questions & Step-by-Step Solutions
A man sells a bicycle for $300 at a profit of 20%. What was the cost price of the bicycle?
Steps
Concepts
Profit Calculation
– Understanding how to calculate profit percentage and its impact on selling price.
Algebraic Manipulation
– Using algebra to solve for the cost price based on the selling price and profit percentage.
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